- Thread starter Rep Dom
- Start date
Lending money
I think you have to belong to some sort of association or be registered by the govt or the police can't enforce collection legally.It is a great business if
A. if you want you house torched ( a friend of mine had his torched when they more or less couldn't pay the money back).
B If you can enforce the collection and put people out of their homes , or want to
C if Value your life
d if you like to sleep peacefully at night
A. if you want you house torched ( a friend of mine had his torched when they more or less couldn't pay the money back).
B If you can enforce the collection and put people out of their homes , or want to
C if Value your life
d if you like to sleep peacefully at night
it depends. i have a good friend who lends money. he is Dominican. it is not dangerous for him. it is dangerous for guys who want to stiff him. however, no foreigner is in a position to employ his methods to collect their money.
Are you looking at getting into the loan shark business ?.Or are you looking at recouping a loan you gave out ?.You are not clear on your objectives.....
Everyone lives on credit in DR. Everyone is borrowing money towards day 10 just to get through. This is why the inhouse loanshark in every business is a good one. They will loan out small amounts with a guarantee of collecting as they have the debit card and are there at the ATM machine every payday, with a bunch of cards for sometimes an hour, collecting. Small inhouse loansharking is good easy money. No contracts, no big money, no broken bones, no problems.
I'd say large amounts is a massive headache and certainly not for the 'shy', or average unhardened gringo!
i know several dominicans in this line of business. they all have armed security. but they are not particularly scared as such, it's more that this kind of act is expected of them.
A guy collecting is more likely to get shot than the person who he is collecting from.
What name is this occupation given in the DR?
In the US they are loan sharks.
In Cuba the term was garrotero.
In the US this trade is being taken over by payday lenders- storefront usurers that can stick you for up to 20% a month.
In the US they are loan sharks.
In Cuba the term was garrotero.
In the US this trade is being taken over by payday lenders- storefront usurers that can stick you for up to 20% a month.