Comment of the Day
November 17, 2008 | Uncategorized | Comments (7)soldtothesouth- This has got to be the most ignorant argument against the payday loan industry. They prey on the poor! Give me a break! Poor people cant pay back loans! Seems odd to loan 300 to someone to make a 45 dollar profit when you end up taking a 300 loss when it doesnt get paid back. Payday lenders typically only advance around 25% of a persons income. Get your facts straight. Secondly, your argument is essentially based on the stories of irresponsible consumers. How about you and the rest of the paternalists join together and shut down fast food restaraunts, because they take advantage of fat people who don’t know any better and can’t afford or don’t have the knowledge to eat healthier. After all obesity is soon the be the number one health epedimic and maybe my health insurance will go down.
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THAT IS JUST LIKE THE PAYDAY INDUSTRY…GET UPSET WHEN FOLKS DON’T AGREE WITH THEM. THE ONLY THING THE PAYDAY INDUSTRY HELPS, IS GETTING PEOPLE TRAPPED INTO THE CYCLE OF DEBT…AS A MATTER OF FACT, YOU COUNT ON CONSUMERS TO COME IN ON FRIDAY TO PAY BACK THEIR LOAN, AND TURN AROUND ON SATURDAY TO BORROW AGAIN…THE CYCLE NEVER ENDS AND YOU KNOW IT. I BELIEVE THE PUBLIC SEES THROUGH YOUR VEIL OF KINDNESS….THAT’S WHY THEY HAVE VOTED TO CAP THE INTEREST RATES, THUS SAYING THEY NO LONGER WANT WHAT YOU HAVE TO OFFER. SO TAKE YOUR RHETORIC AND GO HOME.
Sorry but the reason the public voted for a cap is because a vast majority of the public doesn’t use the product and uneducated about it.
If you stuck a monkey in a room with a sign that said 28% and one that says 391% even the monkey would chose 28% without ever investigating and educating itself on the argument!
I wonder how many Ohioans were the Monkey and didn’t know a damn thing about the legislation or the jobs it was damaging
Yeah, that $300,000 that the Yes on 5 group was able to spend on advertisements was completely unfair and misleading. Too bad that the $20 million that the payday lenders spent (primarily on ads that never mentioned payday loans) couldn’t overcome that vast sum of money the Yes on 5 people put up.
J.d. NOW, NOW, NOW..THERE YOU GO AGAIN.
SO FAR YOU HAVE INSINUATED THAT I WAS IGNORANT, THAT OHIOANS ARE UNEDUCATED, AND NOT TO MENTION THAT YOU ARE SO UPSET THAT YOU ARE SWEARING.
LOOK, THE FACT OF THE MATTER IS THAT CONSUMERS NO LONGER WANT SPEND 391.00 PER YEAR ON A $100.00 LOAN.
THAT’S WHAT’S WRONG WITH THE ECONOMY TODAY..YOU MAKE HIGH INTEREST LOANS TO PEOPLE YOU KNOW WILL NEVER BE ABLE TO PAY YOU BACK. YOUR WAY OF DOING BUSINESS IS THE REASON WHY THE ECONOMY IS IN THE SHAPE THAT IT IS…PEOPLE OR JUST FED UP WITH IT. YOUR THE ONE WHO DOESN’T HAVE HIS FACTS STRAIGHT.
I YOU FEEL THE NEED TO HELP PEOPLE IN NEED,,,TRY WORKING AT A FOOD BANK, HOMELESS SHELTER, OR ANY CHARITABLE ORGANIZATIONS. I WOULD LIKE TO KNOW HOW MUCH THE “INDUSTRY” HAS DONATED IN CHARITABLE ORGANIZATIONS.
soldtothesouth, I think you hit the nail on the head.