
Show HN: Bill Skip: Delay Paying Any Bill for 6 Months - ad_paddock
https://billskip.com/
======
throwaway2016a
On Chrome on OS X at least, this webpage seems to be using jankyscroll.js
[http://zweig.co/jankyscroll/](http://zweig.co/jankyscroll/)

You might want to look into if any Javascript is interfering with the
scrolling.

~~~
ad_paddock
Awesome, thanks for spotting this!

------
ad_paddock
We got a few "test submissions" from the HN community already which is great
lol. But we can't pay a bill if your name is HJSKLAL haha

For anyone who submitted a test it would be awesome to get your feedback on
the flow and product in general!

------
zoidb
You probably should put a prominent notice somewhere that this is not endorsed
or affiliated with paypal (unless it is). If it isn't, the "powered by paypal"
at the top is a bit misleading I think.

~~~
ad_paddock
Good thought, maybe we'll revise to say "secure transactions via PayPal" or
the like.

Thanks for your suggestion!

------
bentossell
Saw this on Product Hunt :) what is your twitter username to add you as a
maker?

~~~
ad_paddock
Awesome! It's @highintent. Totally didn't know that we are on there so I'll
head over and answer comments their as well. Thanks!

------
heydonovan
Why not just sign up for PayPal Credit directly?

~~~
ad_paddock
@heydonovan thanks for the comment! A couple of reasons. First most billers do
not accept paypal so there is no way to use it to pay a bill. Second, the "no
interest/no payments" special financing is not available for cash advances
using PayPal Credit (i.e. if you pay yourself). So Bill Skip is the only way
to use that promo.

------
stab_176
Pretty cool guys

~~~
ad_paddock
Thanks! We're really trying to help people deal with tight financial times.
The 4% fee is lower then credit cards, payday loans, auto title loans, etc.

~~~
tzs
...well, it's low assuming that the person pays back on time. I'd expect that
a fair number of people will use the service because they are in financial
trouble, and some of those will then find 6 months later that they are still
in trouble and won't be able to pay you back. It looks like those people will
face a bit more than 4%:

> If you do not pay in full within the 6 month period, interest (Annual
> Percentage Rate is 19.99%. Minimum interest charge is $2.00) will be
> calculated from the posting date (which is usually within a few days after
> the purchase date) and will be billed to your account.

It will be interesting to see how this business ends up being perceived. I can
see it going two ways. If most of your customers end up being people who just
need a little help with a bill now and then and are able to pay in six months
and so only incur the 4% rate, I think this will be perceived as an innovative
and useful service.

If a lot of customers turn out to be people who are in more serious difficulty
and many cannot make the six month deadline and so get hit with the 19.99%
annual rate, expect a firestorm of criticism accusing you of exploiting the
poor.

I'm curious about the legal aspects of this. In most states with usury laws,
19.9% is above the limit, although there may be exceptions for specific types
of loans or for specific types of businesses. Have you done your legal
homework on all this and obtained any required licenses and so on, or is this
one of those "disrupt first, try to satisfy the regulators later" kinds of
business?

~~~
ad_paddock
Great thoughts tzs, thanks for this comment. We're hoping to perceived as
being helpful. We think it's pretty transparent and we also send users monthly
reminders advising them to pay at least 1/6 of their bill each month.

In terms of your last question it's definitely disrupt first! However we did
consult a lawyer who thinks we might be ok as PayPal Credit is licensed
throughout the U.S. But we'll see!

