Pay Day Loans--Preying on Poor People

[Katzndogz]

I have known people that relied on payday loans to get through the pay period. They run short because they make choices in life that guarantee running short. Instead of food they buy liquor. Instead of putting gas in the car they get marijuana. Instead of paying the electric bill, they get cigarettes, or buy designer Nikes.

They get a payday loan to get through. Some times they ask for an advance from the employer. The end result is the same. They haven't changed spending habits so after they pay the payday loan back, or have the $50.00 advanced taken out of the next check they are even more short than they were the first time.

 

[Zander]

Zander's payday loans!! Only 2% a week!

We also sell liquor, cigarettes, medical marijuana, and lottery tickets!!

Bring your math challenged ass on in!!

Liquor stores do not accept food stamps. That is a lie.



.

Sure it is......

Welfare recipients take out cash at strip clubs, liquor stores and X-rated shops | New York Post

Cash bar: Florida's EBT program has liquor loophole « Watchdog.org

Capitol Report | New Mexico » EBT cards at strip clubs, liquor stores and casinos? It?s still OK here in NM UPDATE: ?We ran out of time,? Sanchez says

Lawmakers crack down on EBT card abuse after 11Alive investigation

 

[whitehall]

If pay-day loans were outlawed the left would whine about it.

 

[boedicca]

Are they mandatory?

Of course not. However, with our "right to get paid less" laws, many people are taking out these high interest loans just to get by. There are now more Pay Day loan offices than McDonald's. That's a reflection of stagnant wages.

I know you didn't have time to watch the video, because I just posted this. Why don't you educate yourself and post after viewing? Just saying...

There wouldn't be any Pay Day Loan offices if there weren't demand for Pay Day Loans.

Nobody forces anyone into taking out these loans.

If you want a real "root cause" for this situation:

1. The warehousing nature of public education that exists to provide benefits to unionized teachers instead of educating children.

2. The absurd notion that all high school students are college material - thus the lack of trade school options.

3. The lack of financial literacy which plays into our Debt Driven "Consumer" economic "theory". It would be helpful for parents to teach their kids the basics of managing their personal finances: personal budget, savings, compound interest (assuming we ever return to a proper banking system), what paying the minimum on a credit card really means, that credit cards are NOT ASSETS...

 

[ogibillm]

Liquor stores do not accept food stamps. That is a lie.



.

most liquor stores sell more than just liquor.

it is not a lie that they accept them, it would be a lie if they said they accepted snap benefits for liquor.

 

[ogibillm]

Zander's payday loans!! Only 2% a week!

We also sell liquor, cigarettes, medical marijuana, and lottery tickets!!

Bring your math challenged ass on in!!

Liquor stores do not accept food stamps. That is a lie.



.

Sure it is......

Welfare recipients take out cash at strip clubs, liquor stores and X-rated shops | New York Post

Cash bar: Florida's EBT program has liquor loophole « Watchdog.org

Capitol Report | New Mexico » EBT cards at strip clubs, liquor stores and casinos? It?s still OK here in NM UPDATE: ?We ran out of time,? Sanchez says

Lawmakers crack down on EBT card abuse after 11Alive investigation

those aren't food stamps.

 

[boedicca]

WTF do you think Electronic Benefits Transfer means, bub?

 

[Soggy in NOLA]

Are they mandatory?

Of course not. However, with our "right to get paid less" laws, many people are taking out these high interest loans just to get by. There are now more Pay Day loan offices than McDonald's. That's a reflection of stagnant wages.

I know you didn't have time to watch the video, because I just posted this. Why don't you educate yourself and post after viewing? Just saying...

Your link is broken due to copyright issues & HBO... anyway, who cares? Don't take out a payday loan.. problem solved.

 

[Carla_Danger]

I have known people that relied on payday loans to get through the pay period. They run short because they make choices in life that guarantee running short. Instead of food they buy liquor. Instead of putting gas in the car they get marijuana. Instead of paying the electric bill, they get cigarettes, or buy designer Nikes.

They get a payday loan to get through. Some times they ask for an advance from the employer. The end result is the same. They haven't changed spending habits so after they pay the payday loan back, or have the $50.00 advanced taken out of the next check they are even more short than they were the first time.

And some people who use these loans are elderly, some are disabled, relying on a small disability check, and some are our service members. You must live in a small world. You seem to be very shortsighted.

And yes, some are stupid. But that doesn't make it right.


.

 

[Carla_Danger]

Are they mandatory?

Of course not. However, with our "right to get paid less" laws, many people are taking out these high interest loans just to get by. There are now more Pay Day loan offices than McDonald's. That's a reflection of stagnant wages.

I know you didn't have time to watch the video, because I just posted this. Why don't you educate yourself and post after viewing? Just saying...

Your link is broken due to copyright issues & HBO... anyway, who cares? Don't take out a payday loan.. problem solved.

The video is on youtube, dummy. HBO puts this weekly segment on youtube, titled "Last Week Tonight."



.


.

 

[LadyGunSlinger]

WTF??! You take a loan then guess what??? YOU OWE THE DAMN MONEY.. You agreed to the terms when you took the damn thing.. OMG.. I can't believe someone even posted this shit and in the politics section no less.

 

[Remodeling Maidiac]

Fox News has covered these stories plenty fool. And these loans are not targeted at poor people, they're targeted at stupid people. Got a brain? Don't go there, problem solved.

 

[Soggy in NOLA]

Of course not. However, with our "right to get paid less" laws, many people are taking out these high interest loans just to get by. There are now more Pay Day loan offices than McDonald's. That's a reflection of stagnant wages.

I know you didn't have time to watch the video, because I just posted this. Why don't you educate yourself and post after viewing? Just saying...

Your link is broken due to copyright issues & HBO... anyway, who cares? Don't take out a payday loan.. problem solved.

The video is on youtube, dummy. HBO puts this weekly segment on youtube, titled "Last Week Tonight."



.


.

Whatever.. who fucking cares? Lemme guess... you live off payday loans...

Loser.

 

[Lonestar_logic]

Cash America paid $19 million in fines and refunds for illegally over charging service members, and destroying documents.

Why do you hate our troops?


.

No one forced our troops to use their service.

does that make usury loans okay?

If you choose to use them then why not? If they engage in illegal activity then they will pay as shown in the example above.

 

[ogibillm]

WTF do you think Electronic Benefits Transfer means, bub?

i think it meas electronic benefits transfer. more than snap benefits can go on those cards.

 

[ogibillm]

No one forced our troops to use their service.

does that make usury loans okay?

If you choose to use them then why not? If they engage in illegal activity then they will pay as shown in the example above.

so then we need to ask ourselves if we want them to be legal or not - or what regulations we insist on for them to be legal.

 

[Lonestar_logic]

does that make usury loans okay?

If you choose to use them then why not? If they engage in illegal activity then they will pay as shown in the example above.

so then we need to ask ourselves if we want them to be legal or not - or what regulations we insist on for them to be legal.

Perhaps we should educate ourselves and learn to read contracts before entering into them.

You cannot legislate ignorance or stupidity.

 

[boedicca]

WTF do you think Electronic Benefits Transfer means, bub?

i think it meas electronic benefits transfer. more than snap benefits can go on those cards.

It's for WELFARE, bub.

 

[Carla_Danger]

And for the conservative Christians on this forum...

Exodus 22:25

“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him."

 

[boedicca]

So you're a Christian now?