Comments on: Payday Loans and Financial Prostitution

By: Sammy

Sammy — Tue, 13 May 2008 18:05:51 +0000

Most people that are in the market for a Payday Loan do not have a 401k to sac, other then that good article!

By: MistressSkatha

MistressSkatha — Tue, 18 Mar 2008 15:26:50 +0000

My husband and I are paying off two right now. The thing that has us frustrated is the deluge of advertisements not only in our emails everyday but on the cell phone, most of which have no available page to unsubscribe from. The cell ads are the worst, they want you to pay to send them a text message saying you want to unsubscribe. We really did this in a desperate time of need (we never go out, and our cell phone is emergency only with no home line, and I am a full time student) but we are through. I would rather hit the rough patches and really struggle for a while then be a part of this ever growing financial epidemic that has even been in articles in Business Week the past few issues.

By: Jackson Hewitt Gets Jacked

Jackson Hewitt Gets Jacked — Fri, 04 Jan 2008 00:44:20 +0000

[...] products) that harm or take advantage of consumers who don’t know any better. For example, Pay Day Loan brothels (yes, I said brothels) take advantage of people in need of short-term loans by charging interest [...]

By: jesica wilson

jesica wilson — Sat, 29 Jul 2006 15:20:24 +0000

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By: Ashlee

Ashlee — Tue, 02 May 2006 14:59:36 +0000

Nice site! You got some useful information.
I am deep in my home loans. I hate it!

Ashlee

By: BeancounterBlog.com » Paydal Loan Ads Gone

BeancounterBlog.com » Paydal Loan Ads Gone — Fri, 27 Jan 2006 16:40:52 +0000

[...] I just wanted to apologize to everyone for the recent slew of Google ads on the site. Ironically because of a few posts on Payday Loans and Financial Prostitution many payday loan ads have been appearing. I have done my best to stop those ads from showing up; however, if you still see one or two sneak through please accept my apologies and feel free to contact me and let me know what the URL is so that I can continue to block those types of ads. Thanks! [...]

By: BeancounterBlog.com » The Criminal Potential of Payday Loans

BeancounterBlog.com » The Criminal Potential of Payday Loans — Wed, 18 Jan 2006 18:33:47 +0000

[...] I wrote about the dangers of payday loans and their financial prostitution a few weeks ago but I thought I would share a real world example of what can happen when you rely on short-term loans. [...]

By: Lindsay

Lindsay — Fri, 30 Dec 2005 21:57:29 +0000

P.S. I love the irony of your Google Ads on this post.

By: Lindsay

Lindsay — Fri, 30 Dec 2005 21:54:05 +0000

Thanks for this topic!

They should really outlaw these places. Not only do they prey on illegal immigrants and the financially unstable, they also prey on those who are (or have been) physically or mentally ill and rendered incapable of managing their finances.

Personally I’ve gotten myself in way over my head with not one, not two, but THREE different payday loan places. I currently owe over $1800 to two of them, and I just paid off the third one a couple weeks ago.

It’s such a hard thing to get out of when you can’t get any other credit. I don’t even know how many thousands of dollars I’ve given these places over the past couple years in broker fees, ‘payer protection plan’ fees, cash card fees, withdrawal fees, check cashing fees, interest fees, insurance fees, term fees, collection fees and ‘other’ fees, I don’t even want to know. I’m not even making these fees up, they are actually listed on my various loan agreements. It’s scary. I’ve lost thousands and thousands of dollars to these places in a very short period of time. I also started out with a little $200 loan. DON’T DO IT.

By: Brent Weber

Brent Weber — Fri, 09 Dec 2005 14:31:37 +0000

My brother-in-law and sister own a payday loan shop. The whole idea behind the scheme is to charge enough in fees that the person has to come back the next week and get another loan. It isn’t ethical but the goal is to build a clientele that is dependent on the loans for the rest of their working lives.

I don’t think I could live with myself if I did that.