Tuesday, December 04, 2018

Kansas City Socialite Payday Loan Honcho Scott Tucker Stays Losing BILLIONS

KICK-ASS Reader suggested link offers better update and info than any local source on a drama that exposed the vapid local suburbanite social scene.

Checkit:

$1.3B award upheld against racecar driver over payday loans

11 comments:

Anonymous said...

I'm no expert on payday loans or Scott Tucker's case but every article I read describes payday loans as a crime. The name "payday loan" is a specific lending product. It's not intended to be a term loan where a borrower pays back the lender over a series of small payments. It's intended to be paid back at your next paycheck - in full. Otherwise, the loan rolls over, new fees are added, and the process starts over again. Many of these borrowers do not have any other options. No credit, bad credit, inconsistent work, etc. makes borrowing and lending a high risk endeavor - hence high interest rates.

Different states have different laws governing payday lending practices. Scott Tucker's crime appears to have been trying to bypass those laws and lend across state lines through phony Indian Reservation companies. They thought that these companies would shield them from their crimes but they do not.

Payday loans serve a purpose and are helpful to those without any other options. High risk borrowers = high interest rates. That doesn't mean that Tucker's companies shouldn't follow the law and disclose the terms of the loans.

Anonymous said...

^^Since you're not an expert, please refrain from commenting again. Thanks.

Anonymous said...

@9:41, I guess you are an expert because you are a client of these payday loan services? Why don't you grow up, soy-boy?

They used to stone people for usury. This guy is getting off easy. I don't give a shit if its legal in Missouri or not. Abortion is legal here too. People who engage in this business are scumbags. That is why this idiot tried to disguise his source of income, because people on the race track would have treated him like a pariah. I hope he has to work as a greeter at Walmart until he is 90.

Anonymous said...

^^Blah blah blah. Find something useful to add or go away. Your post is too damned long.

Anonymous said...

^^^You should maybe take your own advice, Mr. Neckbeard. Should I have written in in crayon for you? So 9 sentences is too long for you? Why you would want to be proud of being an idiot is beyond me, must be a millennial thing. Stay stupid, bra.

Anonymous said...

This guy is a douchebag. Hahaha

Anonymous said...

Socialite?? I've heard Scott Tucker described as a lot of things, but socialite is not one of them.

Anonymous said...

Jim Carnes is a socialite, Del Kimball was a socialite, Scott Tucker was never a socialite.

Anonymous said...

There's a Netflix show that covers this guy's case. Greed is to light of a word for what he did. Even those who were paying back their loans got hosed and paid back more than twice what they borrowed. Usury is exactly what he was practicing. This guy really is no different than your common thug shaking people down.

Anonymous said...

Actually, 8:52 is pretty much on the mark. Watch the Netflix show, Dirty Money.

Anonymous said...

Bet Scott is getting plenty of stick action in the joint.