Aceyducey said:case wh
Huh?
Company just starting up and you're already predicting bankrupcy?
Give them a chance to get it right first.
I have mentioned my concern for their business plan in the other thread, I believe you can only give money for free for so long before your business model starts to look bad - but this is beside the point, the main reason I brought this up was to look at the worst case scenario from the borrowers perspecive. I honestly believe it is a question worth answering no matter the outcome of Derivex's business.
Aceyducey said:BTW TJamesX do you have your strategy in place in case the finance providers you use go bankrupt?
Commbank, Westpac, NAB, St George, BankWest, Bank of SA, etc - they're all clearly on the verge of total insolvency!!!
Cheers,
Aceyducey
I personally don't own any property, the only assets I currently own are in shares and cash - so I don't have any liabilities. But these businesses have been around longer and as far as I know charge interest for the loans they write. To be honest I'm not sure what I would do if a bank did become insolvent and I had borrowings with them - I'm unsure of my rights - therefore the question!