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Posted on 10/31/2011 1:17:48 PM PDT by jazusamo
Late fees on, say, apartment rent or a car loan could easily exceed $45. Taking a payday loan might well be a rational decision given an individual’s financial situation.
I urge you to save your synaptic energy for some legitimate argument.
That makes you a “Nanny.”
jeeze, you do like to show your intelligence don’t you.? That comment was not for you. It was an intentionally absurd remark to GeronL to make him see how ridiculous his remark was.
Let me dumb it down for ya...
I am not a nanny stater any more than you or GeronL are obama voters.
You really do enjoy tossing out your gratuitous personal insults, don't you? How mature of you. Is calling me a "poopy-head" your next step?
That comment was not for you. It was an intentionally absurd remark to GeronL to make him see how ridiculous his remark was.
I guess if I were as smart as you are, I would have figured that out.
Let me dumb it down for ya...
Back to the personal insults, I see. Nice.
I am not a nanny stater any more than you or GeronL are obama voters.
While I'm quite certain that GeronL isn't an obama voter and I know for a fact that I'm not, your status as a nanny-stater is very much in question in my mind.
Sorry, I meant to include on the post of mine above.
oh you are TOO much fun...and so easy I’m starting to feel guilty. I think I will stop here. You’ve had plenty already.
So you’ve got nothing but a strong nanny-statist tendency.
You should get that looked into.
I don't know what you think you've accomplished or what think I've had plenty of already.
Have you run out of your juvenile, personal insults already? Sure you don't want to call me a "poopy-head" before you quit?
Huh? If that $300 is going to save someone a couple or three or four $39 late fee charges, the $45 to have it a few days earlier is worthwhile for both the lender and the borrower.
“That’s where they turn into mobsters, pushing people to a loan they can’t afford to payback so they’re stuck rolling it over forever”
How do they do this - pushing people?
I’ve had to take out a couple of payday loans. I went into it knowing that these guys were about to give some guy they’d never met before $500.00.
They’re taking a risk and I’m in no position to complain. That’s the deal.
You know what the agreement is going in. You make the decision to do it or you don’t.
These people have to make enough money to make it worth doing the lending in the first place. Deadbeatery is, of course, much more prevalent for this type of loan. It is no more than specialized pawn shops wherein you pawn your pay check indtead of your tools.
Government can outlaw these loans or require that they charge only a “reasonable” interest rate and they will no longer be profitable and will disappear. Then the business will return to the old ways and will be the same folks as the ones who provide the drugs. They are stricter in their collection efforts.
It is not my place to prevent from going to a loanshark if you insist -- that's none of my business. But any arguments defending the business are specious, imho; period, end of story.
When you insist on regurgitating falsehoods about the process, there’s no use discussing this with you further.
Fraud is a huge factor as well. There are ways to mitigate this, but anything you do to mitigate that risk will cost you as well.
If only liberals would get upset over government stealing of your money via Social Security, taxes, etc. Government is just another loan shark.
Not everybody knows what the agreement is going in. And not everybody has much choice. That’s their target market.
These loans can still be profitable. There’s no reason they can’t be profitable just on the single payment. As all the numbers have pointed out, they’re usually making a good 15 to 20 dollars on every hundred already, they don’t have to have the perpetual roll over.
Nothing I’ve said is false. But you got the second half right, there’s no reason to continue a conversation with someone that protects scum with lies.
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