Posts by Sarah Rodriguez8

redbison8 said:Look, the issue isn't about how they calculate interest or credit—they aren't stupid enough to advertise one thing and offer another. The real kicker is that once you sign that contract, you're basically stuck. There’s no complaining after the fact...

Besides, if what you guys are saying is true and their business models vary, then they’re clearly just pivoting to fit the specific market and the country they're operating in.

Whatever. I'm not going to waste my breath whining about it—I'm not naive enough to think there's some lawyer or government agency in the world you can run to against these types of fly-by-night operators once you've signed and agreed to the terms. You don't get me—I'm complaining about much deeper issues that even a literate person might overlook or fail to grasp (especially if they aren't an expert in this field). Not to mention, a huge chunk of people using these banks are working-class folks who don't have the time or inclination to dig through the fine print. Well, Ally is playing games here, but I've been doing a deep dive, and every single new detail I uncover reveals another irregularity. I'm not naive enough to believe everything at face value. I check every little detail, and then I consult with institutions and advisors who break things down for me—explaining what's legitimate, what isn't, and what actually constitutes grounds for a complaint. I can't go into all those specifics right now.

All I did was start this thread with a simple question: does anyone know, or have any experience, with what happens in America when someone takes out a loan from Ally and either can't or won't pay it back? Now that I see they operate under different systems in different countries, I guess that's not even relevant anymore.

At the end of the day, I'm convinced that even in the worst-case scenario where I walk away with nothing, Ally will still be hit with massive fines and various suspensions—we're talking about their license to operate in this country being on the line. And if that happens, such a ruling would pave the way for damages, not just for me, but for everyone else in a similar boat. End of story.

I'm not sure which legal system you're operating under, but receiving damages isn't just an automatic byproduct of what you mentioned. Even if it were, there wouldn't be anything left to collect because they would have gone completely bankrupt.

Sole proprietorships are a completely different beast. When looking at corporations, I’m mostly interested in LLCs rather than C-Corps, simply because you need way more capital to launch a C-Corp. As for your business activities, you have total freedom to choose; there aren't any barriers to starting any legal venture you want. I'd suggest browsing through the websites of the U.S. Chamber of Commerce and the U.S. Small Business Administration—you'll definitely find some useful resources there. First, you need to nail down exactly what you plan to do, then take that solid idea to an attorney to ask about the specific timing and requirements.

20k $0.00 in seed capital plus roughly 5-10 $0.00 for a notary or an attorney (depending on who you hire) to handle the paperwork—things like the articles of incorporation, director acceptance statements, and the list of board members. This applies to an LLC.