Economics: PayDay Loans- Bastards or Black Sheep?

[Speaker to Animals]

I used a "predatory lender" to get a motorcycle so I could have something to drive to work and back when I first moved to Seattle.
My credit was thrashed.
I was sleeping on my friends couch.
I had one backpack of belongings and nothing else.
I needed the money, so I could start making money.

Ended up paying about $3200 for a $1800 motorcycle, but I secured a steady income that ultimately led to me establishing a life out here.
Glad those guys were around!

They'd rather you were hopeless.

[DBTrek]

Well .... they lost that bet!

Better luck next time.

Got a relative who is a compulsive spender that did years of cashing her paychecks early at payday loan places because she didn't have the control to simply wait. So they got their pound of flesh from my clan. Just not from me.
(Well . . . some from me. A $3200 for a $1800 bike isn't nothing)

So some people can leverage payday loan places wisely, some people can have fast food occasionally, some people can drink alcohol in moderation, and some can't. Hard to justify regulating everything people might use irresponsibly out of existence.

[Speaker to Animals]

Most people use them wisely given their circumstances. The people who keep rolling the debts over suck for the lenders too.

[Haumana]

Well .... they lost that bet!

Better luck next time.

Got a relative who is a compulsive spender that did years of cashing her paychecks early at payday loan places because she didn't have the control to simply wait. So they got their pound of flesh from my clan. Just not from me.
(Well . . . some from me. A $3200 for a $1800 bike isn't nothing)

So some people can leverage payday loan places wisely, some people can have fast food occasionally, some people can drink alcohol in moderation, and some can't. Hard to justify regulating everything people might use irresponsibly out of existence.

God's will.

Sometimes paying the juice is about making it worth the squeeze. Hating on the resource that allows that is counter intuitive if one only accounts for the feelings involved.

[jediuser598]

Are you going to do for profit universities and prisons next?

Also, you going to Emerald City ComiCon this weekend?

[clubgop]

Think about what existed before pay day loans. Every neighborhood had a loan shark and their money was expensive and their collection methods were punitive.

[clubgop]

Are you going to do for profit universities and prisons next?

What University is not for profit?

[clubgop]

Are you going to do for profit universities and prisons next?

Also, you going to Emerald City ComiCon this weekend?

You bang on insurance companies for checking a person's credit yet you have scorn for a loan shop that doesn't? It almost as if you don't understand basic economics.

[Hanarchy Montanarchy]

Think about what existed before pay day loans. Every neighborhood had a loan shark and their money was expensive and their collection methods were punitive.

This pretty much sums it up.

"Payday Loans: Better than a Loan Shark." Very true.

Guess what makes them better.

Go ahead.

[Okeefenokee]

Think about what existed before pay day loans. Every neighborhood had a loan shark and their money was expensive and their collection methods were punitive.

This pretty much sums it up.

"Payday Loans: Better than a Loan Shark." Very true.

Guess what makes them better.

Go ahead.

Better commercials.