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Originally Posted by Roscoe
The Predatory Lending Association (PLA) is dedicated to extracting maximum profit from the working poor by increasing payday loan fees and debt traps. The working poor is an exciting, fast growing demographic that includes: military personnel, most minorities, and a growing percentage of the middle class.
http://www.predatorylendingassociation.com/ |
Hmmmmm......interesting. But, it's doubtful that any of those who use payday lenders will go to the site for a lesson in what not to do. We have a payday lender two doors down from us and one a block away - seems like they are busy all the time. I suppose it's better than using a loan shark. On the other hand, when your life is half way in the toilet, your options are also in the toilet. The interesting part is that regular financial institutions have had programs to assist this group of people, but generally the group wants to do whatever it is they are doing in their life, over and over again - stuff that keeps them in the toilet - with a few exceptions.