I looked at their follow-up and really thought that they had a few points so looked further - Product review is a website I use but really if you look at the traditional personal loans there are as many complaints NAB has 1 star. There are many that have a lot more stars but I am also sceptical when there are so few verified purchasers as I have found that many have a beef with the company or are huge supporters with only a few reviews.
I think that reality suggests that they needed to decide whether to come out from behind the curtain to have credibility but I would say that Scribd would be able to help authorities find the author. This doesn't look as well protected as Glaucus. I suspect you will find an individual who has a mission behind this. I also suspect that they may not have closed their short hence the follow-up - it could be hurting today.
If the follow-up was to give credibility to their argument then what is that argument - CCP smooth their earnings - So What, that's a problem for an auditor and in fact, that doesn't mean they didn't earn the income.
Wallet Wizard isn't a nice business but as I understand it it's far cheaper than a payday loan and in fact, it allows lower repayments over time. Do the customers' default - you bet they do and in droves - are these customers going to be unhappy - yes We are not talking about very creditworthy customers... Otherwise, they would logically be using the banks like Citi who advertise regularly.
So outside of the political statement and maybe USA is not yet as profitable ... What is the statement - The one I still get is that they don't think that payday loans are ethical. They want Westpac to stop lending money to CCP. I agree about payday loans. So who is responsible to do something or is it buyer beware? Plus where do these people go if the industry closes down?
Also, don't believe the BS about earning $75K and now earning $95K and cannot get refinanced in Product review really the traditional banks would be all over them trying to give them cash. My daughter who is studying at UNI gets offers all the time from traditional big 4 banks and then Citi as well.
CCP Price at posting:
$18.64 Sentiment: None Disclosure: Held
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