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What's so bad about payday loans?

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Scarlet philosopher-king giraffe
  03/21/17
...
medicated fat ankles
  03/21/17
* purple drank
dashing water buffalo
  03/21/17
...
Sable Embarrassed To The Bone Digit Ratio
  03/21/17
(chandler)
disturbing depressive coldplay fan
  03/21/17
tbh i'm not entirely sure how much people who dislike them t...
slate stain whorehouse
  03/21/17
They're very very clear. Poors reason they'll just never pay...
greedy base codepig
  03/21/17
Because they are usurious and perpetuate a cycle of poverty.
Hairraiser hospital
  03/21/17
There's a market for poverty. People seem to love it.
charismatic double fault field
  03/21/17
Pigs do like to rue in their own shit.
Hairraiser hospital
  03/21/17
...
Beady-eyed Set
  03/21/17
tcr
Thriller Citrine Newt Really Tough Guy
  03/21/17
*leans into mic* In a profitability analysis by Fordham J...
diverse very tactful knife
  03/21/17
you need to study more and retake.
Cracking location athletic conference
  03/21/17
if their business model is wrong go open a chain with lower ...
diverse very tactful knife
  03/21/17
Poor people would sell their babies if it was legal. They ma...
Hairraiser hospital
  03/21/17
(urban elitist registered Democrat)
diverse very tactful knife
  03/21/17
YNY.
Hairraiser hospital
  03/21/17
relatedly, Professors of social science think check-cashing ...
diverse very tactful knife
  03/21/17
To what extent should one be able to fuck stupid people?
Hideous patrolman
  03/21/17
cq. i'm all for allowing people to make mistakes, but people...
Cracking location athletic conference
  03/21/17
...
Brilliant Casino
  03/21/17
(guy who doesn't own a Rent-A-Center franchise)
Hairraiser hospital
  03/21/17
...
medicated fat ankles
  03/21/17
...
Cracking location athletic conference
  03/21/17
poors love payday loan stores. they would be lost in a world...
opaque kink-friendly theater national security agency
  03/21/17
I only oppose these to the extent the lenders mislead the re...
Beady-eyed Set
  03/21/17


Poast new message in this thread



Reply Favorite

Date: March 21st, 2017 12:55 PM
Author: Scarlet philosopher-king giraffe



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880925)



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Date: March 21st, 2017 12:55 PM
Author: medicated fat ankles



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880929)



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Date: March 21st, 2017 12:56 PM
Author: dashing water buffalo

* purple drank

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880944)



Reply Favorite

Date: March 21st, 2017 12:57 PM
Author: Sable Embarrassed To The Bone Digit Ratio



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880952)



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Date: March 21st, 2017 12:56 PM
Author: disturbing depressive coldplay fan

(chandler)

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880937)



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Date: March 21st, 2017 12:57 PM
Author: slate stain whorehouse

tbh i'm not entirely sure how much people who dislike them think it's about them not being clear about their fee structure and how much it's just about high interest rates and other fees even if they'd still be pretty damn high just to cover credit risk even if you didn't care about making money beyond breaking even

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880958)



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Date: March 21st, 2017 1:31 PM
Author: greedy base codepig

They're very very clear. Poors reason they'll just never pay them back anyway

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881240)



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Date: March 21st, 2017 1:00 PM
Author: Hairraiser hospital

Because they are usurious and perpetuate a cycle of poverty.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32880991)



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Date: March 21st, 2017 1:28 PM
Author: charismatic double fault field

There's a market for poverty. People seem to love it.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881222)



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Date: March 21st, 2017 1:29 PM
Author: Hairraiser hospital

Pigs do like to rue in their own shit.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881231)



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Date: March 21st, 2017 3:29 PM
Author: Beady-eyed Set



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32882175)



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Date: March 21st, 2017 2:01 PM
Author: Thriller Citrine Newt Really Tough Guy

tcr

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881470)



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Date: March 21st, 2017 2:39 PM
Author: diverse very tactful knife

*leans into mic*

In a profitability analysis by Fordham Journal of Corporate & Financial Law, it was determined that the average profit margin from seven publicly traded payday lending companies (including pawn shops) in the U.S. was 7.63%, and for pure payday lenders it was 3.57%. These averages are less than those of other traditional lending institutions such as credit unions and banks. Comparatively the profit margin of Starbucks for the measured time period was just over 9%, and comparison lenders had an average profit margin of 13.04%. These comparison lenders were mainstream companies: Capital One, GE Capital, HSBC, Money Tree, and American Express Credit.

Payday lenders aren’t charging outrageous interest rates so they can get fat off the profits. They’re charging outrageous interest rates because loaning money to poor people who often fail to pay back their loans is a hard business to break even on.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881720)



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Date: March 21st, 2017 2:43 PM
Author: Cracking location athletic conference

you need to study more and retake.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881772)



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Date: March 21st, 2017 2:46 PM
Author: diverse very tactful knife

if their business model is wrong go open a chain with lower rates and steal their customers

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881807)



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Date: March 21st, 2017 2:51 PM
Author: Hairraiser hospital

Poor people would sell their babies if it was legal. They make bad decisions, hence their poorness. We must protect them from their own stupidity.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881851)



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Date: March 21st, 2017 2:52 PM
Author: diverse very tactful knife

(urban elitist registered Democrat)

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881860)



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Date: March 21st, 2017 2:53 PM
Author: Hairraiser hospital

YNY.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881871)



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Date: March 21st, 2017 2:40 PM
Author: diverse very tactful knife

relatedly, Professors of social science think check-cashing shops are evil because they charge the poor higher rates, so they should be regulated away so that poor people don’t foolishly shoot themselves in the foot by going to them. But on closer inspection, they offer a better deal for the poor than banks do, for complicated reasons that aren’t visible just by comparing the raw numbers.

http://www.businessinsider.com/check-cashing-stores-good-deal-upenn-professor-2017-2

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881728)



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Date: March 21st, 2017 1:43 PM
Author: Hideous patrolman

To what extent should one be able to fuck stupid people?

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881332)



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Date: March 21st, 2017 2:00 PM
Author: Cracking location athletic conference

cq. i'm all for allowing people to make mistakes, but people living in poverty impose a ton of collateral costs on our entitlement society. at some point, the benefit of allowing people to contract freely is outweighed by agreements that make it virtually certain that someone will remain in poverty and continue to leech off of taxpayers/commit crimes their entire lives.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881458)



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Date: March 21st, 2017 2:06 PM
Author: Brilliant Casino



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881498)



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Date: March 21st, 2017 2:24 PM
Author: Hairraiser hospital

(guy who doesn't own a Rent-A-Center franchise)

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881630)



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Date: March 21st, 2017 2:33 PM
Author: medicated fat ankles



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881675)



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Date: March 21st, 2017 2:38 PM
Author: Cracking location athletic conference



(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881713)



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Date: March 21st, 2017 2:49 PM
Author: opaque kink-friendly theater national security agency

poors love payday loan stores. they would be lost in a world without them

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881825)



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Date: March 21st, 2017 2:59 PM
Author: Beady-eyed Set

I only oppose these to the extent the lenders mislead the recipients about loan terms. There is a fair amount of lying that goes on at the payday loan level despite regs.

I don't oppose the high interest rates or the existence of payday loans though. The only access to credit for these sort of people will come at a high rate bc of the risk.

(http://www.autoadmit.com/thread.php?thread_id=3559783&forum_id=2#32881930)