Next Up on the Regulatory Chopping Block...Payday Loans
- Thread starter xmcp123
- Start date
Yeah, so i agree that as far as them being misleading, lenders should have to disclose the terms in some obvious way (very clear on interest rate, provide a payment schedule and show what the total dollar amount to be paid over the life of the loan is). But i don't think the govt. should be able to determine the terms or legality of a contract between two people. So if all they want to do is make lenders clarify, i have no problem with that.
As far as porn being on there, i was talking about things that CAN ruin peoples lives. Porn can ruin people's marriages, which can ruin their lives (or even worse, the lives of their kids, who have nothing to do with the porn watching.)
Which is why providing a payment schedule and showing the total amount paid over the life of the loan should be pretty clear.
So they make payday loan companies disclose everything.
Dude still needs his fix, electric, car repaired, etc....
Can't imagine it hurting their business at all.
They are probably lobbying heavily to make it appear this is a problem so when they get hammered (because it's coming) it's something they only pretended to care about.
Dude still needs his fix, electric, car repaired, etc....
Can't imagine it hurting their business at all.
They are probably lobbying heavily to make it appear this is a problem so when they get hammered (because it's coming) it's something they only pretended to care about.
The site is mine.
I do not want this to become a stone throw but I will state my position.
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Seems to suggest you're right.
Apologies, then. Sorry for the derail.
Payday loans probably save people's lives. They provide an emergency injection of capital to individuals with no savings. It just turns out when you're desperate you're willing to pay big amounts to be rescued.
" households in Georgia have bounced more checks, complained more to the Federal Trade Commission about lenders and debt collectors, and filed for Chapter 7 bankruptcy protection at a higher rate "
Young Meat Chickens Slaughtered in 2007
#1 State - Georgia
/thread
I don't dip into threads that turn political/whatever but as a Georgia resident and a lover of fried chicken I had to chime in:
^best chain fried chicken ever.
/thread
I understand everybody here is upset because many of us promote PayDayLoan offers... but come on now, have you ever gone to one of those places?
The interest rate is through the roof, and the fact is that many people just aren't smart enough to escape.
The interest rate is through the roof, and the fact is that many people just aren't smart enough to escape.
The problem with payday loans is that they service a segment of the market that is not tied directly into the Federal Reserve system.
THIS THIS THIS THIS THIS THIS THIS THIS THIS
so of course Chris Dodd's "fix" is to give the fed the ability to regulate it. fucking bullshit.
I am neither a "hardcore liberal" nor am I "pro-government". I make up my mind individually about different issues.
On the issue of super high-interest payday loans, I find the business model revolves around being misleading and that they ruin peoples lives.
On the issue of abstinence before marriage, studies have shown that teen pregnancy rates and std rates greatly increase with abstinence only education. Common sense and personal experience suggest that if you don't know if you're sexually compatible with someone, you have a good chance of ending up in a really shitty relationship. Thinking that good sex doesn't matter if you're in love with someone is hiiiiilarious.
Not sure how either of these views would hinder my ability to be scrooge mc'duckin it.
