The buying and selling of gold, silver and platinum has added an average of $3,000 to our net income.

We were focused on our payday loan stores (16 in 4 states) and doing nicely. We began to hear about “gold parties” from our customers. We looked into it and began testing.

The results? Not only have we added additional revenue by buying and selling gold but additionally, gold selling customers began to use our payday loan product and payday loan customers began selling their gold and referring their friends and family members.

It’s a no-brainer!

From today’s Denver Post:

“Car title loans: Good option for fast cash?”

“Refund Anticipation Loans: Ripoff or Royal Screwjob?”

In 25 years in media and public relations, the Payday Pundit has never seen the word “screwjob” used in a headline. 

That’s the headline of this letter in the Times and Democrat (S.C.) paper: 

Shutting down the short-term payday loan industry only forces these borrowers to resort to less-desirable and more-expensive alternatives to make ends meet.

Contrary to legislators’ claims, a Dartmouth College study found that a 2007 ban on payday lending in Oregon hurt borrowers who were forced to turn to more expensive alternatives like bounced checks, overdrafts and credit card cash advances.

How do banks get away with charging whatever fees they want without even documeting the situations under which these fees will be assessed. I know that TISA requires that fee assessment procedures be explained in documents available to customers but what resource does the customer have when the bank fragrantly ignores this requirement?
My bank routinely debits my account on the day or day after it issues an electronically generated check; this date is often several days before the payee even gets the check. This practice is not documented in materials available to its customers although if you ask e-banking personnel or customer service reps, they act like you are an idiot to think that it should be any other way. On the other hand, Branch managers and Tellers are totally unaware of this practice.
So, they pulled this on me and it caused a string of NSF fees that I am trying to get them to refund.
Anyone help?

The Pundit’s incisive wisdom is only matched by his biting wit.

But don’t get self-conscious about it…

The Senate passed the bill that denies lenders the opportunity to offer open lines of credit:

Senate Majority Leader Richard Saslaw, D-Fairfax, sponsored the bill, which would confine payday lenders to only issuing short-term, high-interest loans. The measure, SB1470, unanimously passed the Senate.

It will be interesting to read the floor statements to see how they justify limiting consumer choice at a time when credit is hard to get.

They are the big credit reporting agency and they’ve just changed the rules.   Read about it here.

Their charitable works is recognized by the Austin Statesman.

With gold over $900, it’s time to find that old gold necklece you don’t wear any more and take it to a pawn shop.   From the article:

On his middle finger, Mike Ponsart, owner of Great Lakes Coin & Jewelry in Willoughby, displays an old class ring that he says could sell for $20 to $100.

Ponsart said some people turn to selling old or unused jewelry for the extra money or to pay the bills.

“That’s the first thing that’s liquid. If they need the money, at least they have something they can part with,” Ponsart said. “You can’t use a piece of gold to pay your electric bill.”

The United Way gets into the tax refund business.