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Posted on 8/5/16 at 12:02 pm to dabigfella
There will always be people who will always be broke because of their own decisions. I consider it a round about way to get a refund of my tax money.
Posted on 8/5/16 at 12:04 pm to dabigfella
So how about lending me 200 fella?
Posted on 8/5/16 at 2:26 pm to TigersHuskers
I have had to use them before and plasma banks. When you have kids and are on hard times, you do what you have to put food on the table. It was a last resort for me, but I did it. The worst thing is trying to catch up where you don't have to keep using them.
Posted on 8/5/16 at 2:34 pm to TigersHuskers
They must because they are everywhere. This was 10+ years ago but this guy I had been friends with since I was a kid had a gambling addiction and at this point it was getting bad.. He came over to my house to ask if I would go sign for him to take out a payday loan.
He was begging me and I kept telling him no. I told him to leave because I wasn't doing it and he kept on so I called his mother (they were having a time with him) and as soon as he realized I was really talking to his mother he left.
He was begging me and I kept telling him no. I told him to leave because I wasn't doing it and he kept on so I called his mother (they were having a time with him) and as soon as he realized I was really talking to his mother he left.
Posted on 8/5/16 at 2:35 pm to jvilletiger25
quote:
When you have kids and are on hard times, you do what you have to put food on the table.
Even though those places prey on situations like that and take full advantage of them.....for some people...what other options do they have?
When you are poor and living paycheck to paycheck...all it takes is for one event to set you back on hard times. Car breaks down but you have to get it fixed or you lose your job, etc. It is situations like those that will make those payday loan places seem like the only option for some people. They may not have great credit so don't have a credit card they can put that on. They don't have family they can borrow the money from (cause likely their family is poor as well).
Instead of looking down on the people that use those places....just be thankful and consider yourself blessed that times never got THAT bad for you that those places were your only option.
AZ passed a law several years ago banning those payday loan places. Now they just changed their signage to auto title loan places.
Posted on 8/5/16 at 2:42 pm to lsunurse
quote:
auto title loan places
Which from what I an tell are even harder to get out from under because for starters they give people more money, depending on the car of course.
You can drive down a two mile stretch of the boulevard here and I think I counted 20+ such loan places (title/payday/check cashing places).
One lady I rented from in college owned one of these and she would give me a $50 discount if I paid in cash, which I always did to save the money. She said it was because she didn't want to have to deal with going bank to bank and cashing checks or worry about a bad check deposited in her account causing her to bounce checks and snowball fees. I just figure she was laundering the money she made off real estate (she owned several houses) thru her store.
Which I'm no expert on money laundering so maybe not, but it sounded good in my head.
This post was edited on 8/5/16 at 2:44 pm
Posted on 8/5/16 at 2:47 pm to Titus Pullo
quote:
Which from what I an tell are even harder to get out from under because for starters they give people more money, depending on the car of course.
They play numerous commercials for some of those places. Being home during the day a lot....I notice those commercials if I watch tv on the major networks. People talking about getting up to 10K on a title loan. How is that EVER a good idea?? At least with payday loan places they usually only gave people maybe up to what...$1000 max? Which seems like the amount one would need for an emergency situation(car repairs, etc).
Posted on 8/5/16 at 2:50 pm to ProjectP2294
quote:
There are a lot of people that are scared of having bank accounts because they fear the bank will take all their money. So they do payday loan bullshite and let those people actually take all their money
Such bullshite.
The only reason people don't have bank accounts is to
1. avoid wage garnishments
2. avoid child support
Posted on 8/5/16 at 2:53 pm to TigersHuskers
It is a high risk, so the interest rates reflect that.
Posted on 8/5/16 at 3:00 pm to YumYum Sauce
quote:
The only reason people don't have bank accounts is to
1. avoid wage garnishments
2. avoid child support
Not paying taxes on another income.
Posted on 8/5/16 at 3:08 pm to Kujo
quote:
I hear the racket is that they are experts at signing people up for gov handouts and front them the money. Like they will let homeless people use their address and the homeless come and get the checks always 1 month in advance at $40.
So someone uses the same address for a lot of people? This sounds like some bullshite you made up.
Posted on 8/5/16 at 3:15 pm to EA6B
Well, my wife is actually a rent-to-own manager. She doesn't get to keep her job if people quit paying. She is required to keep her delinquent credit at below 10% for the week. So, no more than 10% of her customers can be late on their payments by the time she closes the doors on Saturday afternoon. This is way different than the pay day loan people. These people can not afford to go out and spend 1500.00 on a new washer and dryer. But they can pay 28.00 a week for 78 weeks. So, they get their new washer and dryer, and the company makes a little profit.
Posted on 8/5/16 at 3:23 pm to YumYum Sauce
quote:
Such bullshite.
The only reason people don't have bank accounts is to
1. avoid wage garnishments
2. avoid child support
Its not uncommon for older people not to have and have never had a bank account. I had a great aunt & uncle who never had a bank account and every month they would go to the store to get purchase orders to pay for their utilities.
Posted on 8/5/16 at 3:33 pm to lsunurse
quote:
They play numerous commercials for some of those places. Being home during the day a lot....I notice those commercials if I watch tv on the major networks. People talking about getting up to 10K on a title loan. How is that EVER a good idea?? At least with payday loan places they usually only gave people maybe up to what...$1000 max? Which seems like the amount one would need for an emergency situation(car repairs, etc).
This brings up something that should be mentioned. Poor people are not the only people who need instant money. There are a lot of people who are considered "well off" based on what their job pays, however; it really comes down to money management and living within your means. There are some people who spends every nickel they make, but then when something unexpected happens they have to do whatever is available to them.
Posted on 8/5/16 at 3:34 pm to OweO
I'm sure you can make a ton of money owning/operating one of those places or being a quasi slum lord, but in my opinion, it's not worth it.
1. It just feels slimy to me. Who wants to make a living by prospering on the ignorant and slow?
2. Even if No. 1 doesn't bother you and you think the people are trash and beneath you (they may well be), you still have to deal with them. I enjoy not rubbing elbows with the people that would typically require payday loans. I can't imagine being a landlord to these types and having to deal with their bullshite.
It's the same reason I could never work in retail. The general public is horrible.
1. It just feels slimy to me. Who wants to make a living by prospering on the ignorant and slow?
2. Even if No. 1 doesn't bother you and you think the people are trash and beneath you (they may well be), you still have to deal with them. I enjoy not rubbing elbows with the people that would typically require payday loans. I can't imagine being a landlord to these types and having to deal with their bullshite.
It's the same reason I could never work in retail. The general public is horrible.
Posted on 8/5/16 at 3:46 pm to TigersHuskers
quote:got wrapped up in it once when i was in college. Working and going to school, living paycheck to paycheck, car troubles left me with no alternative. Took me 5 months to get out from under it, lesson learned.
are people really that stupid where they get this shite?
and yea I know there is a lot of them
Had nothing to do with being stupid, had everything to do with no options, mommy and daddy wasn't there to bail me out. Sometimes you have to do what you have to do.
This post was edited on 8/5/16 at 3:48 pm
Posted on 8/5/16 at 3:57 pm to YumYum Sauce
quote:
Such bullshite. The only reason people don't have bank accounts is to 1. avoid wage garnishments 2. avoid child support
That my be true for whites, but it is different for blacks and other minorities who have the largest percentage (21%) of the population not using banks.
LINK
"•Overall perceptions of banking: Many low-income residents are distrustful of banks, have a cultural history of not using banks or simply hold a general belief that banks are not for them."
LINK
"Recent immigrants may doubt the safety of banks. And many low-income people who could afford a basic account but would have a minimal balance worry that they might incur charges of $25 or more if they accidentally bounce a check or make some other error, some people may distrust electronic banking and prefer paper checks — or their employers may not offer direct deposit."
Posted on 8/5/16 at 3:59 pm to TigersHuskers
Nobody you would know, since you are on the OT.
Posted on 8/5/16 at 5:24 pm to TigersHuskers
Not only the loans, but they pay to cash their paychecks there. They take their income tax check there and pay to have it cashed too. Same people pay more for a two liter coke at the Albertsons in their neighborhood than I pay in mine. They can only buy a POS used car from a tote-the-note car lot at a high interest rate too. Being poor ain't easy.
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