Obviously you missed the jist of what was being said. The quarrel was not that the interest was being charged because the payment was late but the payment was late because the end of the month fell on the weekend. And even if the payment was put in the ATM, it wold not be credited until the following Monday and late fees plus interest would be added. And if you add the $90.00 interest to the $40.00 late fee that constitutes 30% of the outstanding amount, which is illegal since banks are only supposed to charge up to 18%. I am not being reckless and neither is may math off, you just misreading or not comprehending what you read. And since I don't feed loan sharks, i don't know what their bait or interest is.

Without disrespect or any insinuations to the departed officer, but when I posted in this forum a few years ago that the police are merely considered a gang in uniform by criminals, many ran hot and took issue with that. Well firstly, it is the goal and intent of criminals, everywhere, to carry out crimes, including committing murder and other violent crimes. When the police do their duty and arrest and bring to trial and have convicted criminals, the crime element is offended by that and feel the need to get revenge. So there is tit for tat going on between the police and the criminals. Then again, there are officers who are not loyal to the force. They are only policemen when they have on their uniforms and report for duty. Other than that, they hang with the same criminal element they are suppose to police, and even worse than that, they share confidential police information with criminals and gangsters. So in fact they are traitors who put their fellow officers lives at risk and use their uniform to cloak crime rather than helping stamp it out. The former commissioner of police was very instrumental in weeding these officers out, and even bring them to justice.

The worst type of crime is when someone is doing what an ordinary, law abiding everyday citizen does picking their children up from school, and expecting to spend a family moment together, if only in the car and on the drive home, and they are n down and murdered. Cold blooded. In front of young children, who probably aren’t even allowed to watch this type of crime and violence on tv. Secondary is the fact that the victim is a law enforcement officer. And the ripple effects of this type crime and tragedy is so far reaching and so opened ended... all those ‘what if..’ questions and the ‘if only..’ statements and the ‘they need to ..blame’. May his soul Rest In Peace.

> Exactly - and this is contrary to Law
> which says that no interest rate can
> be charged to exceed 20% per annum (no
> matter if you call it a late fee or a
> bunny rabbit fee). You can't invent
> and create all kinds of silly named
> fees and add them all up on a customer
> so that he/she is paying effectively
> 30% and claim that your rate is 18.5%
> and the rest are "fees".

I will deal with them tomorrow. They charged 30% interest PLUS the $40.00 late fee. And the payment was only one day late because of the weekend.

Rather than government requiring a patron taxes and itself appearing hoggish, with an insatiable appetite taxes from Bahamians, especially, it should have went about this affair in a different manner.
1. It could have increased the number of web shop operators so as to distribute the wealth from web shop profits among more Bahamians. By adding four additional operators, government would have realized additional tax revenue from business licenses and other fees. In addition the new operators would have to purchase or rent store space, hire staff, pay utilities and so more money world still revert to the government.
2. It could require or encourage the larger web shops to sell shares and become a publlicly traded company or private like Super value, where the wealth is shared among employees and the general public. Placing more taxes on gambling will not drastically decrease the desire for gambling.
3. Instead of a 'Patron Tax', government could require the web shops to set up Patron Loyalty Programs (no not PLP), where 10% of what a customer spends goes onto his account. And the customer can draw the funds only two times a year, say June and December. So if a customer spends $10,0000 gambling in the first six months, he can get back $1,000 at the end of that period. So if he is down on his luck or flat broke, at least he gets $1,000 to jump start his finances. He would be really fool hearty to gamble out the entire $1,000 if his rent is not paid or his lights are off. And even if he does be foolish and blow the entire $1,000, at least he will have $100 in his wallet to be collected in 6 months in addition to 10% of any additional money he spends in the web shops. The six months will act as a cooling off for anyone seriously addicted and will also allow the web shops to use the funds for that period. The ides of government gobbling up every loose penny in taxes is just as bad as the web shops sucking every dollar out the economy. But by at least putting something back every six months, it makes their activity less severe.

They have barred just about every Bahamian trader by now aye..or is there still one left.

So when you add the interest fee to the late fee, the bank is actually getting 30 percent interest on your credit card.!.

Customers always get caught with credit card payments when the end-of-month comes on the weekend. Even if you make a payment through the ATM, it is not processed until the following Monday, and by then they hit you with a $40.00 late fee plus interest @ 18*%. So if you miss the deadline on your card payment and your balance is $5,000, your interest will be $90.00 plus $40.00 which is $130.00. But not only that,but rather than wait until the end of the month to pay, we rush in and pay the next day even though the interest charged is for the entire month. So the bank makes $90.00 on us for just one or two days, plus a $40.00 late fee.

There is no big secret to the cost of living in this Bahamas. And not just food stores. The government collects customs duties averaging 25% on most food items. Then on top of that they collect the 12% VAT.. And this 12 % is calculated after the inland freight, duty, ocean freight, insurance, and all other associated charges are applied to the cost of the goods. So YES government is collecting VAT on customs duties (or tax on a tax). So that's already like 40% taxes to your government. Then there are business license fees that is calculated on gross sales and is payable whether a business is profitable or not, and national insurance Then the businesses And those outrageous electricity bills! almost $50,000 in some stores..So you see most of what you spend for anything in this country goes to the government.. But yet they are broke and in debt.

"#Florence is likely to cause damaging hurricane-force winds along parts of the
coasts of South & North Carolina, & a Hurricane Watch is in effect for some of this area. Damaging winds could also spread well inland into portions of the Carolinas & Virginia http://hurricanes.gov

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