Comment of the Day
November 16, 2008 | Uncategorized | Comments (0)IF SOMEBODY IS SO HARD UP FOR CASH THAT THEY WOULD GO TO SUCH MEANS, WHY WOULD A PAYDAY LENDER LOAN MONEY TO THEM, IT IS OBVIOUS THE LOAN WOULD NEVER BE PAID BACK….THUS LEAVING THEM IN WORSE SHAPE….THIS IS WHAT IS WRONG WITH THE PAYDAY LOAN INDUSTRY….YOU PREY ON THE POOR…YOU PEOPLE ARE SOMETHING ELSE.
Can one of our critics, maybe this commenter, tell the Payday Pundit how an industry stays in business making loans to people who can’t pay them back? The two major criticisms of the payday lending industry are in contradiction: customers don’t pay the loans back and the industry maker huge profits. The facts are, the industry has very low default rates AND the industry makes modest profits.
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