closed PaydayLoansComparison.com, NewYorkPayday.com, LAPaydayLoans.com. Please appraise.

[discobull]

I want to do a mailing to promote these but I don't have much experience selling payday loans domains. Any thoughts on what I should be asking for these? Thanks in advance.

 

[rh287]

Well, congress is going to limit the Payday loan business to a max of 36% APR. You can thank Sen. Dick Durben and Barny Franks. ( Both brick and morter and internet business models). This means ALL Payday loan companies and possibly all pawn shops who loan cash for a fee will not be able to stay in business and survive in the USA with a max APR of 36% with the high default rates. I know this because my wife is a top small loan, (not Payday or Pawn), finance executive for the largest small loan company in the World. The majority of Democrates and Republicans are on board with this, so this bill is going to be passed one day. The goal is to shut down the predatory loan practices of the Payday loan / Pawn businesses. It will pass in mid 2012 and go into law in sometime after Jan 2013.

I talked with my wife tonight as I looked at this thread. She told me the US Gov was going to craft the bill the way they did with Gambling online, so it will be illegal to loan / borrow money above 36% APR online even from offshore hosted websites.

Read this:

http://www.responsiblelending.org/p...h-cost-loans-promotes-financial-recovery.html

So I'm sorry to say 0$....

Anyone thinking of getting into Payday loans in the USA should seriously re-think it. And if you own a profitable Payday loan domain...sell it soon!