bestfiction Chapter 105 Loan Trap, Making the Japanese Cry
Chapter 105 Loan Trap, Making the Japanese Cry
"Repayment in US dollars?"
"Is there a difference?"
Ken Otsuka frowned in confusion.
"There's no difference!"
"Currently, 1 US dollar = 100 Japanese yen."
"Suppose Mr. Kenji borrows 1 billion yen, and then repays me 10 million US dollars later, is that alright?"
1 US dollar = 100 Japanese yen
US$10 million = 1000 billion yen
There is absolutely no difference!
Ken Otsuka nodded: "I agree. Then lend me one billion yen, and I'll pay you back ten million US dollars later."
How is the interest calculated?
He couldn't wait to complete the loan application; if he hadn't been listed as a defaulter by the bank, he would have applied for the loan long ago.
He couldn't bear to sell the land to pay off the loan.
They are unwilling to move out of their mansion.
Blacklisted by the banking industry!
Jiang Feng introduced with a smile:
"Three years, with a total interest rate of 10%, which means if you borrow 1 billion yen, you will have to repay 11 million US dollars after three years!"
"How about it?"
Ken Otsuka replied with satisfaction, "Yes, the interest rate is indeed not high. I agree. Let's pay back $1100 million then!"
Currently, 1 US dollar = 100 Japanese yen.
In the future, 1 US dollar = 200 yen.
Therefore, after the yen depreciated by 50%, he needed to repay double the loan, which is 22 billion yen!
for example:
2 yuan - 50% = 1 yuan
1 yuan + 100% = 2 yuan
Therefore, the price after a 50% devaluation multiplied by 2 equals the original price; a 50% devaluation requires double the repayment.
The "double" refers to the price after devaluation. One yuan doubled is two yuan, and 50% of two yuan is one yuan. Do you understand?
But this is not Jiang Feng's main objective!
Increasing repayment amounts is merely a means to an end.
He wants two plots of land.
Ken Otsuka's two plots of land are in excellent locations and have the potential to appreciate two or three times in value. We must get our hands on them!
Make Otsuka Ken unable to repay his loan, seize his land, bankrupt him, and make him lose his house and land!
Let's see if he dares to be arrogant again.
(￣へ￣)
"As for this house, consider it as my rent to Mr. Daikenzuka for now. You can buy it back when you make money in the future."
"How about it?"
Jiang Feng's schemes were too elaborate, and Otsuka Ken was forced to agree, stipulating an annual rent of $100,000, which was considered a relatively favorable deal.
Finally, of course, the true intentions were revealed!
"Mr. Kenjiro, although I believe you can definitely achieve great things and reach the pinnacle of your life, the rules cannot be broken. I still need you to pledge something as collateral. Is that alright?"
(→_→)
Ken Otsuka's wary questioning:
"You're trying to cheat me out of my land?"
Jiang Feng shrugged: "How can this be called a scam? Do you not need collateral when you apply for a bank loan?"
"Besides, the bank won't lend you money, will it? Right now, who else besides me would be willing to lend you money?"
Ken Otsuka thought about it carefully and realized he was right!
Although I sense there's a conspiracy...
But the conditions are fair.
After a moment's thought, he agreed: "Alright! I'm willing to pledge two plots of land as collateral. I'm sure I can succeed."
"Humph~"
Jiang Feng's lips curled up slightly.
With me around, you think you can succeed?
Hahahahahaha~
The big joke of slipping the world.
Wait for death!
(→_→)
"Ah, yes, yes, you big bastard, no, Mr. Kenzuka, you will definitely be able to regain your glory!"
Ken Otsuka frowned inexplicably.
"My name is Ken Otsuka."
"It's not called Ōkenzuka."
"Forget it, that's not important. Let's sign the contract! Get the money ready quickly, I can't wait to start my second business."
He urged him on with high spirits and great ambition.
Jiang Feng arranged for a lawyer to prepare the contract.
Jiang Feng lent Mr. Otsuka Ken ten million US dollars (which has been converted into one billion yen) for a period of three years!
The total interest rate was 10% over three years. Upon maturity, Mr. Ken Otsuka repaid the principal and interest, totaling $1100 million. (Regardless of exchange rate fluctuations, the total amount repaid was $1100 million.)
The mortgaged assets are two plots of land. If Mr. Ken Otsuka fails to repay the loan on time, the land will belong to Jiang Feng. (Regardless of fluctuations in land value, the two plots of land will be compensated.)
Guarantors: Ken Otsuka's wife, son, and daughter, who share the repayment responsibility and have equal repayment obligations.
In addition, a rental agreement was also prepared.
Ken Otsuka rents Feng Jiang's house for $100,000 per year. He agrees to pay for any damages at the original price and to voluntarily move out if he cannot pay rent on time. (If he refuses to move out, he voluntarily assumes legal responsibility for illegally occupying another person's property.)
The co-tenants—Ken Otsuka's wife, son, and daughter—share the same legal responsibility.
Kenya Otsuka hired a lawyer to review the contract.
There are no problems!
Both parties sign and seal!
OK
Jiang Feng paid 10 billion yen, and Otsuka Ken laughed ecstatically, his attitude extremely arrogant.
"Okay, you can leave now!"
"I will pay you back on time."
"Humph~"
Jiang Feng shrugged: "Let's hope so!"
Pay on time?
wishful thinking!
Hehehe~ (Angelic smile)
Situ Wan'er asked, puzzled:
"Xiao Feng, what are you doing?"
"Why don't I understand?"
"You won't accept the house, but you'll still lend him money?"
"Are you crazy?"
Su Meng and the others smiled without saying a word, and Zhou Kai and the cowboys also kept quiet, showing no sign of worry.
Without a doubt, everyone knows the reason!
She was kept in the dark.
What a fraud!
(T～T)
Doug couldn't help but give a thumbs up: "Boss, you're really cunning. This guy's doomed!"
"Who told him to insult our boss?"
"Deserve it!"
"Hmm~"
Sadako Kobayashi couldn't understand Jiang Feng's actions either. She didn't know what he was trying to do. Was he crazy?
What happened next was also quite unbelievable!
Jiang Feng faces various deadbeats—
“I know you don’t have money, but I can rent the house to you. If you rent it for 30 years, I’ll give it to you.”
"Are you interested?"
"It's like a mortgage!"
“Your credit is very bad right now, and banks will never give you a mortgage, but I can provide you with a mortgage.”
"You're renting my house."
"Pay rent every month."
"Rent for 30 consecutive years without interruption or overdue payment, and after 30 years, the house will be given to you as a gift!"
"How about it?"
In Japan, the price of a house is roughly equivalent to the rent for 30 years, which is equivalent to waiving mortgage interest.
Many debtors choose to accept this!
But
Jiang Feng then made another request: "But in order to prevent anyone from defaulting on rent payments, you need to pay a deposit of 3000 million yen, which can be refunded in three years, with absolutely no difference."
Receive Japanese yen as margin.
Refund of Japanese Yen deposit.
No problem!
No money? I'll lend you some!
"But our company only accepts US dollars."
(→_→)
Borrow Japanese yen!
Return the US dollars!
Now, we're lending out 3000 million yen.
They'll pay back 6000 million yen later.
Although they didn't know why they had to go through such a pointless procedure, these deadbeats all agreed.
Since there's no interest, you can repay the same amount you borrow.
It doesn't matter at all!
╮(╯_╰)╭
They signed the loan agreement without any suspicion, and without seeing a single penny, they received two extra things:
$30 loan (pending repayment)
¥3000 million deposit (pending refund)
They are now of equal value!
They have no debt!
However, the yen immediately depreciated, and their 30 million yen deposit remained unchanged, but they needed to repay double the loan amount.
A debt of 3000 million yen appeared out of nowhere!
Overdue?
Not returning?
If the deposit is not refunded, the loan company will sue for compensation, and the house can also be reclaimed. They owe 60 million yen!
(→_→)
Rent is calculated based on market prices and adjusted every six months; Tokyo's housing prices are about to skyrocket.
Rents will naturally increase gradually!
These deadbeats simply can't hold out.
The rent will most likely be overdue!
If the loan is overdue, they will sue for breach of contract, seize the house, deduct the deposit, force them to repay the loan, and if they don't repay, they will go to jail.
Or (→_→)
Let your wife and daughter go into the adult film industry!
Hehehehehe
.