\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

What's so bad about payday loans?

...
Magenta multi-colored tanning salon private investor
  03/21/17
...
Rose volcanic crater
  03/21/17
* purple drank
azure provocative headpube
  03/21/17
...
Sooty Rehab International Law Enforcement Agency
  03/21/17
(chandler)
bat-shit-crazy cyan nibblets
  03/21/17
tbh i'm not entirely sure how much people who dislike them t...
fantasy-prone puce theatre
  03/21/17
They're very very clear. Poors reason they'll just never pay...
idiotic aphrodisiac mad cow disease
  03/21/17
Because they are usurious and perpetuate a cycle of poverty.
wine set
  03/21/17
There's a market for poverty. People seem to love it.
Mind-boggling vermilion station azn
  03/21/17
Pigs do like to rue in their own shit.
wine set
  03/21/17
...
Useless Corner
  03/21/17
tcr
aromatic telephone
  03/21/17
*leans into mic* In a profitability analysis by Fordham J...
orchid stage cumskin
  03/21/17
you need to study more and retake.
Excitant Church Building
  03/21/17
if their business model is wrong go open a chain with lower ...
orchid stage cumskin
  03/21/17
Poor people would sell their babies if it was legal. They ma...
wine set
  03/21/17
(urban elitist registered Democrat)
orchid stage cumskin
  03/21/17
YNY.
wine set
  03/21/17
relatedly, Professors of social science think check-cashing ...
orchid stage cumskin
  03/21/17
To what extent should one be able to fuck stupid people?
pearly vibrant theater
  03/21/17
cq. i'm all for allowing people to make mistakes, but people...
Excitant Church Building
  03/21/17
...
Flirting lake legend
  03/21/17
(guy who doesn't own a Rent-A-Center franchise)
wine set
  03/21/17
...
Rose volcanic crater
  03/21/17
...
Excitant Church Building
  03/21/17
poors love payday loan stores. they would be lost in a world...
Lemon Stain
  03/21/17
I only oppose these to the extent the lenders mislead the re...
Useless Corner
  03/21/17


Poast new message in this thread



Reply Favorite

Date: March 21st, 2017 12:55 PM
Author: Magenta multi-colored tanning salon private investor



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



Reply Favorite

Date: March 21st, 2017 12:55 PM
Author: Rose volcanic crater



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



Reply Favorite

Date: March 21st, 2017 12:56 PM
Author: azure provocative headpube

* 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: Sooty Rehab International Law Enforcement Agency



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



Reply Favorite

Date: March 21st, 2017 12:56 PM
Author: bat-shit-crazy cyan nibblets

(chandler)

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



Reply Favorite

Date: March 21st, 2017 12:57 PM
Author: fantasy-prone puce theatre

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)



Reply Favorite

Date: March 21st, 2017 1:31 PM
Author: idiotic aphrodisiac mad cow disease

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)



Reply Favorite

Date: March 21st, 2017 1:00 PM
Author: wine set

Because they are usurious and perpetuate a cycle of poverty.

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



Reply Favorite

Date: March 21st, 2017 1:28 PM
Author: Mind-boggling vermilion station azn

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

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



Reply Favorite

Date: March 21st, 2017 1:29 PM
Author: wine set

Pigs do like to rue in their own shit.

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



Reply Favorite

Date: March 21st, 2017 3:29 PM
Author: Useless Corner



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



Reply Favorite

Date: March 21st, 2017 2:01 PM
Author: aromatic telephone

tcr

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



Reply Favorite

Date: March 21st, 2017 2:39 PM
Author: orchid stage cumskin

*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)



Reply Favorite

Date: March 21st, 2017 2:43 PM
Author: Excitant Church Building

you need to study more and retake.

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



Reply Favorite

Date: March 21st, 2017 2:46 PM
Author: orchid stage cumskin

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)



Reply Favorite

Date: March 21st, 2017 2:51 PM
Author: wine set

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)



Reply Favorite

Date: March 21st, 2017 2:52 PM
Author: orchid stage cumskin

(urban elitist registered Democrat)

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



Reply Favorite

Date: March 21st, 2017 2:53 PM
Author: wine set

YNY.

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



Reply Favorite

Date: March 21st, 2017 2:40 PM
Author: orchid stage cumskin

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)



Reply Favorite

Date: March 21st, 2017 1:43 PM
Author: pearly vibrant theater

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

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



Reply Favorite

Date: March 21st, 2017 2:00 PM
Author: Excitant Church Building

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)



Reply Favorite

Date: March 21st, 2017 2:06 PM
Author: Flirting lake legend



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



Reply Favorite

Date: March 21st, 2017 2:24 PM
Author: wine set

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

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



Reply Favorite

Date: March 21st, 2017 2:33 PM
Author: Rose volcanic crater



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



Reply Favorite

Date: March 21st, 2017 2:38 PM
Author: Excitant Church Building



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



Reply Favorite

Date: March 21st, 2017 2:49 PM
Author: Lemon Stain

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)



Reply Favorite

Date: March 21st, 2017 2:59 PM
Author: Useless Corner

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)