Mr Scrooge, then called Benjamin Slade in his youth ,suggested the idea to Mr Brewster that people take furniture on credit, paying 10% down and paying a little each month with interest. He will do this for 18 months and by the time he is finished , he will pay 150% of the purchase price.
What if the purchaser cannot pay,was the next question. Mr Scrooge responded , then you repossess it and sell it back , you stand to make 200% of the purchase price.
Does this sound familiar??
I personally will not take furniture on credit , mainly because it is an item that is in depreciating value . But I see so many people doing it and I sigh. Then I am reminded that there persons who see this as the only option. Be wise.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. SHE IS A LECTURER AT THE ARTHUR LOK JACK GLOBAL SCHOOL OF BUSINESS IN TRINIDAD. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
ANTOINETTE SYDNEY LAW OFFICE: MONTROSE MAIN ROAD CHAGUANAS, TRINIDAD AND TOBAGO
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