Payday Loans

Payday Lending- A 400% Fascination Personal debt Entice





Payday lending traps borrowers in prolonged-term 400% fascination credit card debt, creating them susceptible to overdue costs, overdraft service fees, credit card delinquency and bankruptcy. A 36% cap on yearly fascination springs the credit card debt lure.

24 comments

  1. I have a bitch my pay daY

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  2. bitch my car

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  3. fuck you

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  4. Payday Loans are illegal in Maryland.

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  5. ◄ Vɪsɪᴛ Mʏ Cʜᴀɴɴᴇʟ ᴛᴏ Lᴇᴀʀɴ ʜᴏᴡ ᴛᴏ Fɪɴᴅ ᴛʜᴇ ʙᴇsᴛ Pᴀʏᴅᴀʏ Lᴏᴀɴ Sᴇʀᴠɪᴄᴇ, sᴛᴀʀᴛ ғʀᴏᴍ $100 & ᴜᴘ ᴛᴏ $5,000, Aᴘᴘʟʏ Oɴʟɪɴᴇ ɪɴ 2 ᴍɪɴᴜᴛᴇs ᴀɴᴅ ʙᴀᴅ ᴄʀᴇᴅɪᴛ ɪs OK, ᴏʀ https://plus.google.com/105695081041688884021/posts/Nmv1QcXs27v

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  6. nobody forces these people into using payday lending. they use payday loans because they want to.

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  7. these people don't know what they're talking about. i know that payday loans are VERY, very, VERY cool.

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  8. This is why I don't mess around with payday lenders and other loan sharks because they just hurt people. They come off like their your best friends and they don't even know you. Ive searched online and read stories from people who got hurt by lenders and the stories just made my jaw drop. People have got threatening calls, threatening mail, strangers showing up at their homes, some people got heckled at their jobs and so forth. Some people reported to have never got money from them after giving the lenders their payment info and bank info and they had their identities stolen.
    But its a real shame how lenders do this crap to people and most of the time don't get caught or convicted. I think they are one of the things holding the economy down. They don't care who they hurt in the process.

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  9. Support #fairlending  
    There needs to be a viable alternative that follows industry standards and that follows the proposed, yet not enforced interest cap.
    http://igg.me/at/communityloancenter/x/8716266

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  10. They don't mention that those neighborhoods (latino and black) are also low rent. They would have you believe its because they are targeting those people, then forget to add that you need a checking account to borrow money. Can't have it both ways.

    And who the hell keeps a payday loan for a whole year and pay 400%? I borrow $100 and pay them back $116 two or three weeks later. Works better than credit card for me, cause I know I let a credit card go by, you have to pay back the payday loan or they start breaking kneecaps. Works for me.

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  11. They hit European American areas very hard too… racist CRL videos assholes! Why don't we hear about European Americans? Bigots.

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  12. How ironic, because you don't make sense either. I tell you I pay my bills on time and live within my means and you tell me to live in a shack and not borrow money. Explain that? The company I work for makes money of my labor, they should be equally grateful I work for them.

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  13. Anyway (continued reply, and my last one),
    I don't fucking understand a thing you're saying (I don't think you do either). First you say you don't agree with my financial conclusions, then you say I'm "way more financially savvy" than you are. Which is it?
    And, YOUR attitude is the problem. You DARE say that corporations are evil (yes, some are, but not most). But, odds are a corporation employs you. People like me build corporations to employ people like you, but we're evil? Ungrateful fuck.

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  14. I don't even understand the question. You own my business?
    Decyphering the rest… I don't ALWAYS work 100. My average is probably 70-75 hours per week. No, I don't have "my own" banking consultant… not one on staff, if that's what you mean.

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  15. Ok so I work 100hr/wk and own your business. You probably make at least three times what I make. You are also probably way more financially savvy. Do your have your own banking consultant?

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  16. Socialist pig. Distribute the wealth? Fucking WORK for it, like I did. I grew up being raised by a single mom making $14K per year, driving around in an old beat-up station wagon with only one working door.
    Spare me your "distribute the wealth" – YOU are responsible for EARNING wealth, you lazy pig. YOU can earn it by working harder, get an education, and build your own company from its bootstraps like I did. I started my company with $3000 in my basement. Until you do that too, shut your trap.

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  17. Gosh you sound bitter. Are you a Teabagger? But seriously, if wealth was distributed more evenly people wouldn't have to work so much for such little pay. I have routinely worked more than 40hr/wk, but thanks to a union long time ago, they negotiated a higher pay rate. Do yourself (and me) a favor and don't fight with working class people, the real criminals are the corporations.

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  18. And, yes, I routinely work 100 hours per week. It has varied over the years, but since the mid 80s, I've been working 100 hours per week often enough to call it a regular event. I worked 100+ hours last wek. I am working 100+ hours this week. I will work 100+ hours next week.

    Your pathetic fucking "people shouldn't work 100 hours per week" is the problem. If you want to fucking only work 40 hours per week, fine, go live in a shack and don't fucking borrow money, lazy fucking ass.

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  19. You couldn't be more wrong if you tried.
    Anyway, fine, then the answer is simple. DON'T BORROW from them.
    And, again, if their margins were anywhere near what you think they are (they're not), then their competition would just open up nearby and offer lower interest.
    Jesus fucking goddamned imaginary christ, fucking quit talking out of your ass about topics that you know NOTHING about.

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  20. What's with this class warfare? Do the rich work 100hours/wk? No one should work 100hrs/wk. Sorry, but these aren't mom and pop operations, most of these companies are backed by Bank of America, Wells Fargo, etc. This is simply a two tiered banking system. They exist because they can extract money from poor people and keep them in perpetual poverty. Poor people have an economy just like everyone else. Again, I am a strong proponent of basic personal finance education at the high school level.

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  21. Why should they be illegal?
    I'm so fucking sick and tired of the fucking idiotic brainwashed public blaming the fucking BANKS for loaning money.
    Fine.
    Fucking go find another bank willing to lend for lower. If you find one, great, then that's the solution. And, if you can't, then just don't fucking borrow. It's as simple as that. You don't need a LAW to stop you from going into the bank and borrowing at high interest. The terms are clear on the papers. Just quit borrowing if you don't like it.

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  22. So, your perspective is as a person who lives within his means and has the ability to get good credit?
    Um, ohhh kaaaay.
    Fine.
    Why do you think that these high interest payday loans exist? You do realize that if they didn't have so many people defaulting, competitive banks would offer these types of loans with lower interest, right?
    The "companies" perpetuate the cycle of poverty? Fine. Just stop borrowing then.
    Again, show me a payday loan recipient who works 100 hours per week? Does one exist?

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  23. I call B S. I am not rich by any means but I always live within what I can earn and pay all bills on time. By simply doing this, I have managed to accumulate quite a nice chunk of money from credit card rewards and money market accounts. Now imagine I had millions, the banks would be throwing money at me for doing nothing. These companies perpetuate the cycle of poverty, by charging high interest. Poor people do pay back their loans, look into microlending.

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  24. If the most intelligent thing you've heard about money came from Chris Rock, you know nothing.
    These terms like "predatory lenders" "scams" and "traps" are ridiculous. Nobody put a gun to these borrowers' heads. The fact of the matter is that lending to people so desperate that they take out payday loans has a very high risk of non-payment. Interest rates HAVE to be high with the risk is that high.
    Show me the payday loan recipient working 100+ hours per week (like I did) and I'll have sympathy.

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