Comments on: Comment of the Day II http://paydaypundit.org/2008/11/05/comment-of-the-day-ii-4/ 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: Jeff http://paydaypundit.org/2008/11/05/comment-of-the-day-ii-4/comment-page-1/#comment-2226 Jeff Thu, 06 Nov 2008 02:07:31 +0000 http://paydaypundit.org/?p=1863#comment-2226 Umm, no, it's not automatic. They had to apply for the new license. It has a fee. Not every payday lender got it, but the majority did. Where are your facts coming from, Glenn? Umm, no, it’s not automatic. They had to apply for the new license. It has a fee. Not every payday lender got it, but the majority did. Where are your facts coming from, Glenn?

]]> By: Glenn http://paydaypundit.org/2008/11/05/comment-of-the-day-ii-4/comment-page-1/#comment-2221 Glenn Wed, 05 Nov 2008 23:44:38 +0000 http://paydaypundit.org/?p=1863#comment-2221 Saying "Several" lenders in Ohio received the new license is grossly incorrect. All of them did - it was automatic. That doesn't mean anyone will ever use the license. Saying “Several” lenders in Ohio received the new license is grossly incorrect. All of them did – it was automatic. That doesn’t mean anyone will ever use the license.

]]> By: Chris F http://paydaypundit.org/2008/11/05/comment-of-the-day-ii-4/comment-page-1/#comment-2210 Chris F Wed, 05 Nov 2008 16:21:03 +0000 http://paydaypundit.org/?p=1863#comment-2210 You're correct. The real question is how viable is this product and how long will the companies throw good money at bad? There is just not enough business to cover the costs of keeping 1550 stores open with installment loans at 28%. Also, remember that none of the companies that continued to operate wanted to lose employees. If there was not a "future" for the job, then why would an employee stay and how hard would it be to fill the opening? Sit tight and hold on!!! It's going to be a rough ride for both, the customer and businesses!!! You’re correct. The real question is how viable is this product and how long will the companies throw good money at bad? There is just not enough business to cover the costs of keeping 1550 stores open with installment loans at 28%.

Also, remember that none of the companies that continued to operate wanted to lose employees. If there was not a “future” for the job, then why would an employee stay and how hard would it be to fill the opening?

Sit tight and hold on!!! It’s going to be a rough ride for both, the customer and businesses!!!

]]> By: Chris http://paydaypundit.org/2008/11/05/comment-of-the-day-ii-4/comment-page-1/#comment-2209 Chris Wed, 05 Nov 2008 16:15:09 +0000 http://paydaypundit.org/?p=1863#comment-2209 several lenders in Ohio have already received the licensing to offer the new product. several lenders in Ohio have already received the licensing to offer the new product.

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