You are just miserable, but let's see if you can follow me.
Locals who offer credit accounts as their bread and butter...there is a lot of risk. No matter how hard you try to do it right, there is an element of risk inherent in the business model. So you try to keep it tight, only book friends, etc. But if you were to ONLY book people you TRULY trusted with your life, your client sheet would consist of your wife and your parents, and I doubt your mom wants a nickel on Michigan this afternoon.
This is how a credit local builds his business. He extends credit to people that, in his estimation, are worthy of that credit. If you think there are people out there with 750 credit scores clamoring for credit accounts you got another thing coming. You are dealing with a seedy bunch by nature.
I have known Defying for a long time and I also know PWP and I vouched. For you to turn around and give the bookie some sort of culpability is ignorant.
I agree with some of that.
How well did you really know this guy?
Do you know him personally?
Or did you just know him from the internet?
I realize that even the best of the best bookies runs into some risk.
But from what I see you guys are extending credit to the slums of the slums and expecting a good result.
Only way I could be wrong about this situation is if you know this poster better then I assume.
But I doubt you do. If I am wrong about that then I will take most of what I said back.
But yes, the bookies does deserve part of the blame in this.
Just like the banks deserved part of the blaming in the housing crisis in 2008.
Give a loan to someone who don't deserve it and you have what we had in 2008.
If a credit player cannot put up a decent deposit to start this is not someone you want unless that person has impeccable references.
But anyway keep doing your thing.