http://paydaypundit.org/2009/04/14/rapid-city-journal-a-newspaper-editorial-board-with-common-sense/ News and Information About The Payday Lending Industry Fri, 18 Jun 2010 21:33:31 -0700 http://wordpress.org/?v=2.9 hourly 1 http://paydaypundit.org/2009/04/14/rapid-city-journal-a-newspaper-editorial-board-with-common-sense/comment-page-1/#comment-9457 loren collins Fri, 05 Feb 2010 13:07:44 +0000 http://paydaypundit.org/?p=2920#comment-9457 payday loans are the modern equivalent of loan sharks, usuary written into law by the selfish, self-serving politicians who want donations from the 25-35 percent rate lenders, who want their thievery institutionalized forever. it is insane, and i want them all shut down. my son foolishly took a title loan, then couldn't make the payment. he came to me to borrow $50 to make the first payment. i went to the loan (company?) and asked how much of the $50 payment woule be applied to the principal. want the answer? on a $200 loan (first payment, $50) $48 to interest and $2 to pricipal. outlwa it and throw these thieves in jail, for a long time!!!! payday loans are the modern equivalent of loan sharks, usuary written into law by the selfish, self-serving politicians who want donations from the 25-35 percent rate lenders, who want their thievery institutionalized forever. it is insane, and i want them all shut down. my son foolishly took a title loan, then couldn’t make the payment. he came to me to borrow $50 to make the first payment. i went to the loan (company?) and asked how much of the $50 payment woule be applied to the principal. want the answer? on a $200 loan (first payment, $50) $48 to interest and $2 to pricipal. outlwa it and throw these thieves in jail, for a long time!!!!

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