[MrB]

So, you’d prefer the old days?
You know, where the “loansharks” were really loansharks and not a hyperbolic application of the term,
and they would actually come break your knees for non-payment instead of sending you to collections?

[the invisib1e hand]

In the "old days," the loansharks had no recourse to the legal system, couldn't arrange to have your shit repossessed or your wages garnished or any of the other "legal" ramifications of the inevitable default.

As was previously stated: swimming with loansharks is for professionals. Any "civilization" of the practice mere gives them more of an edge and the cloak of legitimacy.

Geezus I can't believe how ever-loving gullible people are.

[Da Coyote]

“The difference between a Humanist and a Satanist - the latter knows whom he’s working for.”

Now, THAT I like.

[discostu]

Actually these guys are worse, at least regular loan sharks apply some of the vig to the principal. These payday loan guys will keep charging you the roll over fee forever, not one cent ever reduces the loan. It’s a sad industry that’s less honest than mobsters.