Don't be stupid, hombre.
Must be a Dominican (financial adviser) saying this.... :laugh:
donP
Must be a Dominican (financial adviser) saying this.... :laugh:
donP
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Wealth Manager in DR
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I don't know about that...Mala-paga are those who don't pay simply because they don't feel like it....People may be "mala paga" not because of their nationality but because of their specific socio-financial situation...In other words, controlling for income and wealth, a Dominican may be as good/bad "paga" as another person from a different nationality but with THE SAME socio-financial situation...Dominicans have a reputation amongst Dominicans for being mala paga. Those of us that have married into Dominican families know this. It's not the same as saying "they're all thieves". But are many slow, unlikely and hesitant to fulfill financial obligations? You already know the answer.
Tired of your lectures
"specific socio-financial situation"... OMG :lick:
Go on fooling yourself with your lectures.
You can't fool us.
donP
.Mala-paga are those who don't pay simply because they don't feel like it....People may be "mala paga" not because of their nationality but because of their specific socio-financial situation...In other words, controlling for income and wealth, a Dominican may be as good/bad "paga" as another person from a different nationality but with THE SAME socio-financial situation...
"specific socio-financial situation"... OMG :lick:
Go on fooling yourself with your lectures.
You can't fool us.
donP
Mala-paga are those who don't pay simply because they don't feel like it....People may be "mala paga" not because of their nationality but because of their specific socio-financial situation
Te contradices. Your first statement defines the phenomenon as having to do with willingness. This is a character issue. Then just four periods away, you suggest it's their socio-financial situation that's to blame. Which is it? I'll tell you. Both. Either way, son mala paga.
"specific socio-financial situation"... OMG :lick:
Go on fooling yourself with your lectures.
You can't fool us.
donP
well, the Rental Car company sure fooled me. socio economic situations notwithstanding.
No contradiction whatsoever. The correct definition of mala-paga is one who don't pay his bills, b/c he doesn't feel like it, even though he actually could.Te contradices. Your first statement defines the phenomenon as having to do with willingness. This is a character issue. Then just four periods away, you suggest it's their socio-financial situation that's to blame. Which is it? I'll tell you. Both. Either way, son mala paga.
Other people simply don't pay because they can't...those are NOT mala paga.
If you know of a serious study, done by serious competent researchers based on recognised institutions, concluding that controlling for income/wealth/job-situation etc a Dominican is less likely to pay his bills than a person with a SIMILAR FINANCIAL profile from a different nationality please link or cite the study.
If it is just non-scientific anecdotal 'evidence' or speculation it is useless.
If there was such a study the immediate question would be why...after all Dominican people did not arise in the island...they are a mixture of several ethnic/racial groups (Spanish, Black, a bit of Amerindian) that came from elsewhere and are present elsewhere...why the exact same groups/mixtures would produce different results (credit-wise) in other islands, and elsewhere?
No contradiction whatsoever. The correct definition of mala-paga is one who don't pay his bills, b/c he doesn't feel like it, even though he actually could.
Other people simply don't pay because they can't...those are NOT mala paga.
If you know of a serious study, done by serious competent researchers based on recognised institutions, concluding that controlling for income/wealth/job-situation etc a Dominican is less likely to pay his bills than a person with a SIMILAR FINANCIAL profile from a different nationality please link or cite the study.
If it is just non-scientific anecdotal 'evidence' or speculation it is useless.
If there was such a study the immediate question would be why...after all Dominican people did not arise in the island...they are a mixture of several ethnic/racial groups (Spanish, Black, a bit of Amerindian) that came from elsewhere and are present elsewhere...why the exact same groups/mixtures would produce different results (credit-wise) in other islands, and elsewhere?
I'm just telling you what's been shared with me for almost twenty years, by Dominicans. Why would they make it up?
Who is they? 'They' have not told me.I'm just telling you what's been shared with me for almost twenty years, by Dominicans. Why would they make it up?
If 'they' did tell me, I'd tell them the same thing I wrote above (whoever 'they' are).
Who is they? 'They' have not told me.
If 'they' did tell me, I'd tell them the same thing I wrote above (whoever 'they' are).
They are my ex-wife and her seven siblings, her parents, aunt and uncle, cousins, etc. My beloved dead ex-BIL(RIP Jorge). My gf and her family. Friends and other acquaintances. Like I said, they don't say that all Dominicans are thieves. Rather, they caution about doing business with or lending to them. From hard-won experience. I've had pretty good success overall in my transactions, personally, with a couple of glaring exceptions.
You don't need to explain anything......
Dom's been here for 6 yrs w/ 341 posts --- I feel like 300 were aimed at me.
Somebody woke him/her up..... after all this time
Dom's been here for 6 yrs w/ 341 posts --- I feel like 300 were aimed at me.
Somebody woke him/her up..... after all this time
In MY experience, the adjective "mala paga" has ALWAYS been applied to specific persons (Fulano es mala-paga)...NEVER to all or most Dominicans....And again, the specific socio-economic group or "class" they were referring to is critical...They may have been mostly thinking or referring to people in THAT class, as opposed to 10M Dominicans....they don't say that all Dominicans are thieves. Rather, they caution about doing business with or lending to them. From hard-won experience. I've had pretty good success overall in my transactions, personally, with a couple of glaring exceptions.
To my knowledge credit-reporting agencies, collection agencies, "repo" men, credit-repairing schemes, credit cards for bad-credit people, etc. etc. are ALL alive and well in many countries other than the DR, including the US and most/all "developed" countries... and no, I do not believe such things were invented specifically for the Dominican community (if any) in those countries...That tells me that the phenomenon of people who do not or cannot pay their bills as regularly as needed ("mala paga") extends well beyond the DR, and developing countries, and is by no means exclusive to Dominican people.
In MY experience, the adjective "mala paga" has ALWAYS been applied to specific persons (Fulano es mala-paga)...NEVER to all or most Dominicans....And again, the specific socio-economic group or "class" they were referring to is critical...They may have been mostly thinking or referring to people in THAT class, as opposed to 10M Dominicans.
To my knowledge credit-reporting agencies, collection agencies, "repo" men, credit-repairing schemes, credit cards for bad-credit people, etc. etc. are ALL alive and well in many countries other than the DR, including the US and most/all "developed" countries... and no, I do not believe such things were invented specifically for the Dominican community (if any) in those countries...That tells me that the phenomenon of people who do not or cannot pay their bills as regularly as needed ("mala paga") extends well beyond the DR, and developing countries, and is by no means exclusive to Dominican people.
in case it escaped your notice, the person inquiring about financial services is asking about such entities IN THE DOMINICAN REPUBLIC. who gives a crap that there are also crooks in Tierra del Fuego? we know that. yes, collection agencies exist in Tibet...perhaps. but, who cares? what does all that have to do with the DR?
While there may be legitimate money managers here in the DR I fully expect them to charge a premium rate over similar services offered in the States. This is because of lower demand and this would be considered a luxury item and like all luxury items here you are expected to pay through the nose. Not only that I have no idea the tax rate here in the DR but it probably ain't pretty.
I would recommend finding a firm where you are from. If you want to invest here in the DR you could look at buying properties on the coast and developing them or selling them. You will need a good attorney and realtor. Ask for references.
I would recommend finding a firm where you are from. If you want to invest here in the DR you could look at buying properties on the coast and developing them or selling them. You will need a good attorney and realtor. Ask for references.
Not only that I have no idea the tax rate here in the DR but it probably ain't pretty.
How do you not know your tax rate?
To the OP. There really is no benefit to bringing money into the DR. Unless your money is being held hostage in Nigeria and you need a money manager to help you liberate it, or some other off story where you need a payment to help you get your hands on it. I dont want to hear Dominicaus pi$$ing and crying but I wouldnt trust anyone in the DR that is not a blood relative. I especially wouldnt trust any expats. Any native money manager will rob you. They might also kill you.
Bienvenido a Republica Dominicana!!!!!!
Bienvenido a Republica Dominicana!!!!!!
To the OP. There really is no benefit to bringing money into the DR. Unless your money is being held hostage in Nigeria and you need a money manager to help you liberate it, or some other off story where you need a payment to help you get your hands on it. I dont want to hear Dominicaus pi$$ing and crying but I wouldnt trust anyone in the DR that is not a blood relative. I especially wouldnt trust any expats. Any native money manager will rob you. They might also kill you.
Bienvenido a Republica Dominicana!!!!!!
Jeezus, Johnny. now you've gone and done it. duck! incoming!.
It has EVERYTHING to do with the implication that bad-credit people and/or financial fraud people are a Dominican thing....as YOU and others have been saying...maybe you need to read your own posts.in case it escaped your notice, the person inquiring about financial services is asking about such entities IN THE DOMINICAN REPUBLIC. who gives a crap that there are also crooks in Tierra del Fuego? we know that. yes, collection agencies exist in Tibet...perhaps. but, who cares? what does all that have to do with the DR?
If such problems exist everywhere, then why to even warn the OP? And why the advice that the OP keeps his/her money in his/her country (whichever it is)? Presumably there (wherever it is) there are also people who won't pay their debts as well as unethical money managers, and financial fraud. Have you already forgotten about NY's Bernie Madoff and his 65 BILLION USD Ponzi scheme? Bernie and his scheme have no connection whatsoever to the DR.
And Bernie is not the only one...Did you ever hear of ENRON?, Worldcom? All the Mortgage frauds?
None had anything to do with the DR.
...I wouldnt trust anyone in the DR that is not a blood relative. I especially wouldnt trust any expats. Any native money manager will rob you. They might also kill you.
Yeah, if all of those who lost money to Bernie Madoff and his 65 BILLION ponzi scheme, or through Enron, or Worldcom, or through fraudulent mortgages had only followed your advise, they would have their money....wait...none of those had anything whatsoever to do with the DR....oopsssssssssss!!
All those (and many others) happened in the 'developed' world....I guess you can lose money everywhere...Oh well!
For the Canadians: have you ever heard of the Canadian Bre-X Company group? These people did: The Ontario Municipal Employees Retirement Board (loss of $45 million), the Quebec Public Sector Pension fund ($70 million), and the Ontario Teachers Pension Plan ($100 million).
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