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.
The author is an attorney at law based in Trinidad.She specialises in AML/CFT and Fraud Risk Management . Website : http://asydneygroup.com.
What’s app 868 484-7778
#time #credit #creditcard #debt #hirepurchase #loans #appliances #goals #savings #investment #dream #timepayments