Comments on: Last update of the night http://paydaypundit.org/2008/11/04/last-update-of-the-night/ News and Information About The Payday Lending Industry Fri, 18 Jun 2010 21:33:31 -0700 http://wordpress.org/?v=2.9 hourly 1 By: Chris F http://paydaypundit.org/2008/11/04/last-update-of-the-night/comment-page-1/#comment-2208 Chris F Wed, 05 Nov 2008 15:29:20 +0000 http://paydaypundit.org/?p=1853#comment-2208 You're correct Jeff. This was a win for all of the people that were trapped in a cycle of debt. Taking away a product that helps them put food on the table, medicine in thier cabinets, gas in their cars and clothes on thier children will fix everything. Those of you that are celebrating the victory on this referendom cannot see the forest thru the trees. If you think that you have flicked a switch and now all of the people no longer have a need for extra cash has just went away, you're wrong. Will all of the current lenders create a new product and stay in business, look at Arkansas and Oregon. Will the legitamate internet lenders that are/were licensed in Ohio still offer loans? No. The only option will be for the consumer to go online and borrow at higher rates with no regulations ands the state no longer can do anything to help them when trouble rises. To those of you that stand beside Jeff celebrating this victory, you will be sincerely thanked some that are forced to learn how to budget better and scorned by more that have just lost their "lifeline" to keep thier head above water. You should be "proud" of what you have achieved... You’re correct Jeff. This was a win for all of the people that were trapped in a cycle of debt. Taking away a product that helps them put food on the table, medicine in thier cabinets, gas in their cars and clothes on thier children will fix everything.

Those of you that are celebrating the victory on this referendom cannot see the forest thru the trees. If you think that you have flicked a switch and now all of the people no longer have a need for extra cash has just went away, you’re wrong. Will all of the current lenders create a new product and stay in business, look at Arkansas and Oregon. Will the legitamate internet lenders that are/were licensed in Ohio still offer loans? No. The only option will be for the consumer to go online and borrow at higher rates with no regulations ands the state no longer can do anything to help them when trouble rises.

To those of you that stand beside Jeff celebrating this victory, you will be sincerely thanked some that are forced to learn how to budget better and scorned by more that have just lost their “lifeline” to keep thier head above water.

You should be “proud” of what you have achieved…

]]> By: Chris http://paydaypundit.org/2008/11/04/last-update-of-the-night/comment-page-1/#comment-2197 Chris Wed, 05 Nov 2008 04:33:23 +0000 http://paydaypundit.org/?p=1853#comment-2197 say goodbye to 6,000 jobs jeff, because of the law you supported did you even think about those families? there's probably people out right now about to jump off bridged but you don't care so long as the law you FEEL was important to be approved has passed. Karma will deal out its punishment on you in due time, in due time... say goodbye to 6,000 jobs jeff, because of the law you supported did you even think about those families? there’s probably people out right now about to jump off bridged but you don’t care so long as the law you FEEL was important to be approved has passed.

Karma will deal out its punishment on you in due time, in due time…

]]> By: Jeff http://paydaypundit.org/2008/11/04/last-update-of-the-night/comment-page-1/#comment-2196 Jeff Wed, 05 Nov 2008 04:23:07 +0000 http://paydaypundit.org/?p=1853#comment-2196 Keep trying to make your arguments. 2/3rds of Ohio voters saw through your arguments, despite the millions of dollars you spent on false and misleading ads. It seems like the same thing is happening in Arizona. We don't need 391% interest. Payday lenders who actually want to help people will figure out a way to make loans at 28%. Over half of the current payday lenders have already applied for a license to lend under other laws. I had a conversation with a pastor the other day. She told me that a member of her congregation asked her for a job reference. She was applying for a job at a payday lender. When the pastor asked her about Issue 5, the woman said "I asked about that, and they said not to worry about that. They do plenty of other things, and they'll stay in business." We saw through the lies. We saw through the fake arguments. 391% is too high, and you couldn't buy enough votes to avoid that fact. Keep trying to make your arguments. 2/3rds of Ohio voters saw through your arguments, despite the millions of dollars you spent on false and misleading ads. It seems like the same thing is happening in Arizona.

We don’t need 391% interest. Payday lenders who actually want to help people will figure out a way to make loans at 28%. Over half of the current payday lenders have already applied for a license to lend under other laws.

I had a conversation with a pastor the other day. She told me that a member of her congregation asked her for a job reference. She was applying for a job at a payday lender. When the pastor asked her about Issue 5, the woman said “I asked about that, and they said not to worry about that. They do plenty of other things, and they’ll stay in business.”

We saw through the lies. We saw through the fake arguments. 391% is too high, and you couldn’t buy enough votes to avoid that fact.

]]>