Afterpay, zip pay it's a scam

[Faster With Feeling]

I just had a friend crying on messenger
I told them not to sign up for this..

Now they can't pay back what they borrowed

[Out Of Bubblegum]

Correct. They are all very bad ideas.

[Faster With Feeling]

Originally posted by Out Of Bubblegum:

Correct. They are all very bad ideas.

Yes I mean it does seem very tempting to use but my philosophy is that if I can't afford to buy something right now I won't buy that till I have enough money to buy on the spot

[Irene ❤]

Is it like an online loan shark with huge interest?

[EASY PETE]

What happens if they don't pay it back? Kneecap breaking time?

[Out Of Bubblegum]

Originally posted by Irene ❤:

Is it like an online loan shark with huge interest?

Yes. And big penalties, I think.

[Faster With Feeling]

Originally posted by EASY PETE:

What happens if they don't pay it back? Kneecap breaking time?

They just jack up the interest on repayments

I would avoid these kind of things at all costs

[Fake]

Originally posted by The Cereal Killer:

Originally posted by Out Of Bubblegum:

Correct. They are all very bad ideas.

Yes I mean it does seem very tempting to use but my philosophy is that if I can't afford to buy something right now I won't buy that till I have enough money to buy on the spot

How do you think they make money?

Targeting people that no other credit lenders approves means these people generally aren't going to be able to pay back within due by dates.

And, they can wear the halo of "helping" poor people.

[Out Of Bubblegum]

Originally posted by EASY PETE:

What happens if they don't pay it back? Kneecap breaking time?

I "think" you have to put up some kind of collateral. Like the title to your car.

[Charles]

Afterpay is quite useful at helping manage money.

[Fake]

Originally posted by abraham:

Afterpay is quite useful at helping manage money.

Afterpay preys on people that CAN'T manage money.

[WaitandSee]

It's the Credit Card for my generation.

I have always thought that spending money that isn't my own is a terrible idea, I am glad I have always been financially literate and never been in challenging financial circumstances and have not unsubstantial savings to fall back on if I am struck by challenging economic times.

People need to learn to delay gratification and not buy things they cannot afford.

[Spencer]

Historically both slavery and rules against usury existed for a reason.

[Xautos]

always someone who thinks they can walk on water until they learn quickly they can't swim and start drowning. i mean if they don't want to hear it and find out the hard way? then that's on them.

[Tristin]

Good, your friend learned something! Hopefully.

[Angel]

It's not a scam. It's more that your friend made a financially bad decision. But those types of brokers usually have a limit of $100-$2000. They can pay it eventually.