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Thinkcash...

Korashk
Posts: 4,597
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1/26/2010 10:50:07 AM
Posted: 6 years ago
I just accidentally hit one of the ads for thinkcash. I'm at school and the site was blocked, but the filter gave me some very interesting reasons. Those reasons were malware and phishing. Your thoughts?
When large numbers of otherwise-law abiding people break specific laws en masse, it's usually a fault that lies with the law. - Unknown
Ore_Ele
Posts: 25,980
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1/26/2010 10:58:02 AM
Posted: 6 years ago
At 1/26/2010 10:50:07 AM, Korashk wrote:
I just accidentally hit one of the ads for thinkcash. I'm at school and the site was blocked, but the filter gave me some very interesting reasons. Those reasons were malware and phishing. Your thoughts?

My work blocks www.funnyjunk.com as mature/pornographic content, yet doesn't block 4chan.
"Wanting Red Rhino Pill to have gender"
Korashk
Posts: 4,597
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1/26/2010 11:08:49 AM
Posted: 6 years ago
At 1/26/2010 10:58:02 AM, OreEle wrote:
At 1/26/2010 10:50:07 AM, Korashk wrote:
I just accidentally hit one of the ads for thinkcash. I'm at school and the site was blocked, but the filter gave me some very interesting reasons. Those reasons were malware and phishing. Your thoughts?

My work blocks www.funnyjunk.com as mature/pornographic content, yet doesn't block 4chan.

The difference is that there is mature/borderline pornographic content on funnyjunk. I don't really know anything about thinkcash, but phishing is a fairly serious accusation. Also, 4chan isn't all that bad outside of the 18+ boards.
When large numbers of otherwise-law abiding people break specific laws en masse, it's usually a fault that lies with the law. - Unknown
wjmelements
Posts: 8,206
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1/26/2010 3:23:38 PM
Posted: 6 years ago
If you look closely, the Thinkcash ads have been replaced with Mastercard. Hah.

The site looked fraudulent before, though. It's possible that they're safe, but it's unlikely. Their testimonials, pointed out in another thread, are obviously faked.
in the blink of an eye you finally see the light
Ore_Ele
Posts: 25,980
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1/26/2010 5:05:17 PM
Posted: 6 years ago
At 1/26/2010 5:03:21 PM, mongeese wrote:
How is it even possible to set up a fradulent loaning business?

Umm, by lying to the customers to get them to accept terms that you've convinced them they can afford, but you know they can't.

That is fraud (deception for personal gain).
"Wanting Red Rhino Pill to have gender"
mongeese
Posts: 5,387
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1/26/2010 5:13:50 PM
Posted: 6 years ago
At 1/26/2010 5:05:17 PM, OreEle wrote:
At 1/26/2010 5:03:21 PM, mongeese wrote:
How is it even possible to set up a fradulent loaning business?

Umm, by lying to the customers to get them to accept terms that you've convinced them they can afford, but you know they can't.

That is fraud (deception for personal gain).

If the customer is stupid enough to think he can take a loan that he really can't, he gets what's coming to him.
Volkov
Posts: 9,765
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1/26/2010 5:16:56 PM
Posted: 6 years ago
At 1/26/2010 5:13:50 PM, mongeese wrote:
If the customer is stupid enough to think he can take a loan that he really can't, he gets what's coming to him.

Wait, what?

So, if I say to you that you can take out a loan, even though I know you can't, it is your fault for believing me, even though you put trust in me as the person providing this service?

I think that is called fraud.
mongeese
Posts: 5,387
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1/26/2010 5:20:15 PM
Posted: 6 years ago
At 1/26/2010 5:16:56 PM, Volkov wrote:
At 1/26/2010 5:13:50 PM, mongeese wrote:
If the customer is stupid enough to think he can take a loan that he really can't, he gets what's coming to him.

Wait, what?

So, if I say to you that you can take out a loan, even though I know you can't, it is your fault for believing me, even though you put trust in me as the person providing this service?

I think that is called fraud.

Why do I trust you, again?
Ore_Ele
Posts: 25,980
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1/26/2010 5:20:33 PM
Posted: 6 years ago
At 1/26/2010 5:13:50 PM, mongeese wrote:
At 1/26/2010 5:05:17 PM, OreEle wrote:
At 1/26/2010 5:03:21 PM, mongeese wrote:
How is it even possible to set up a fradulent loaning business?

Umm, by lying to the customers to get them to accept terms that you've convinced them they can afford, but you know they can't.

That is fraud (deception for personal gain).

If the customer is stupid enough to think he can take a loan that he really can't, he gets what's coming to him.

no he doesn't. If he is LIED to, then he is making decision based on false info. That is the definition of fraud.
"Wanting Red Rhino Pill to have gender"
douglasfunny
Posts: 16
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1/26/2010 5:23:05 PM
Posted: 6 years ago
protip to the non-finance people: People don't ever give out loans to people that cannot afford. The company giving the loan wants the person taking it to have a long period of time paying it back. The person getting the long term loan spends his money unwisely, has a lot of high interest debt and accumulates more of it (credit card debt).

People get themselves into debt. Don't blame the lender, blame the borrower.
Ore_Ele
Posts: 25,980
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1/26/2010 5:28:43 PM
Posted: 6 years ago
At 1/26/2010 5:23:05 PM, douglasfunny wrote:
protip to the non-finance people: People don't ever give out loans to people that cannot afford. The company giving the loan wants the person taking it to have a long period of time paying it back. The person getting the long term loan spends his money unwisely, has a lot of high interest debt and accumulates more of it (credit card debt).

People get themselves into debt. Don't blame the lender, blame the borrower.

Not entirely true, I thank you. As someone that worked for a loan shark, I know this. Management, loved to make loans (secured against the person's vehicle) that couldn't be paid back. Because they would often get part of the payment, and a car (which was often more valuable).
"Wanting Red Rhino Pill to have gender"
douglasfunny
Posts: 16
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1/26/2010 5:32:37 PM
Posted: 6 years ago
At 1/26/2010 5:20:33 PM, OreEle wrote:
no he doesn't. If he is LIED to, then he is making decision based on false info. That is the definition of fraud.

How can you possibly be lied to? Its a contract. You accept it when you sign it. The math to work out a loan payment and know how long you have to pay it back is elementary. Quit blaming those giving the loans like all they care about is making you bankrupt. They want to make a profit, not get defaulted loans.

Don't like it? Don't take the loan.
douglasfunny
Posts: 16
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1/26/2010 5:34:49 PM
Posted: 6 years ago
At 1/26/2010 5:28:43 PM, OreEle wrote:
Not entirely true, I thank you. As someone that worked for a loan shark, I know this. Management, loved to make loans (secured against the person's vehicle) that couldn't be paid back. Because they would often get part of the payment, and a car (which was often more valuable).

I still don't understand what's wrong with that? The interest rate is set, the loan is secured by an asset, etc.

If a person takes a loan they are responsible for paying it. Again the blame doesn't go on the shark but on the idiot who thinks he can afford a loan that he can't.
Ore_Ele
Posts: 25,980
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1/26/2010 5:36:16 PM
Posted: 6 years ago
At 1/26/2010 5:32:37 PM, douglasfunny wrote:
At 1/26/2010 5:20:33 PM, OreEle wrote:
no he doesn't. If he is LIED to, then he is making decision based on false info. That is the definition of fraud.

How can you possibly be lied to? Its a contract. You accept it when you sign it. The math to work out a loan payment and know how long you have to pay it back is elementary. Quit blaming those giving the loans like all they care about is making you bankrupt. They want to make a profit, not get defaulted loans.

Don't like it? Don't take the loan.

Lying like "if you come across hard times we will work with you, and can re-negotiate the rates, and make something that works for both of us." when in reality, they absolutely will not.

Those are flat out lies.
"Wanting Red Rhino Pill to have gender"
wjmelements
Posts: 8,206
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1/26/2010 5:49:20 PM
Posted: 6 years ago
At 1/26/2010 5:36:16 PM, OreEle wrote:
At 1/26/2010 5:32:37 PM, douglasfunny wrote:
At 1/26/2010 5:20:33 PM, OreEle wrote:
no he doesn't. If he is LIED to, then he is making decision based on false info. That is the definition of fraud.

How can you possibly be lied to? Its a contract. You accept it when you sign it. The math to work out a loan payment and know how long you have to pay it back is elementary. Quit blaming those giving the loans like all they care about is making you bankrupt. They want to make a profit, not get defaulted loans.

Don't like it? Don't take the loan.

Lying like "if you come across hard times we will work with you, and can re-negotiate the rates, and make something that works for both of us." when in reality, they absolutely will not.

If none of this were fraudulent (illegal), then we can assume that the loan failing is the consumer's fault, as evident by "you come across hard times" (meaning failure to pay).

Those are flat out lies.

Fraud. Not a product of a free market. Already illegal.
in the blink of an eye you finally see the light
Volkov
Posts: 9,765
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1/26/2010 6:07:10 PM
Posted: 6 years ago
At 1/26/2010 5:32:37 PM, douglasfunny wrote:
They want to make a profit, not get defaulted loans.

To note, this kind of thought failed to register before with all of those mortgages and loans. Besides, if, say, a bank lends you money, but you default, they will still get their money no matter what, in some way. And remember - interest is a b*tch.

That is kind of why the credit system was created. Not only was it designed to give the banks a warning about those requesting loans, it also protected those with bad credit from further defaulting by actively denying them the ability to take out a loan until their credit could be rebuilt. It helps stop banks, who make a profit regardless, from taking advantage.
Ore_Ele
Posts: 25,980
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1/26/2010 6:34:43 PM
Posted: 6 years ago
At 1/26/2010 5:49:20 PM, wjmelements wrote:
At 1/26/2010 5:36:16 PM, OreEle wrote:
At 1/26/2010 5:32:37 PM, douglasfunny wrote:
At 1/26/2010 5:20:33 PM, OreEle wrote:
no he doesn't. If he is LIED to, then he is making decision based on false info. That is the definition of fraud.

How can you possibly be lied to? Its a contract. You accept it when you sign it. The math to work out a loan payment and know how long you have to pay it back is elementary. Quit blaming those giving the loans like all they care about is making you bankrupt. They want to make a profit, not get defaulted loans.

Don't like it? Don't take the loan.

Lying like "if you come across hard times we will work with you, and can re-negotiate the rates, and make something that works for both of us." when in reality, they absolutely will not.

If none of this were fraudulent (illegal), then we can assume that the loan failing is the consumer's fault, as evident by "you come across hard times" (meaning failure to pay).

If they lie about what is in the contract, even if it is written in their in the fine print, it is still legal fraud. Note: even if the contract says "xyz" in the fine print, if the loan salesman says something else in an attempt to trick someone into a loan, it is fraud.

"A false representation of a matter of fact—whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed—that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury."

http://legal-dictionary.thefreedictionary.com...


Those are flat out lies.

Fraud. Not a product of a free market. Already illegal.

What does the free market have to do with this?
"Wanting Red Rhino Pill to have gender"