.webp?h=8 "Merry Fistmas!")
The correct finance take is downmarseyd. I guess Redditors would rather this guy not be able to get money when he needed it.
And who's fault is it that they have horrible credit again? Not the pay day loan people.
In America? So many reason: medical debt, being in the foster system, minor crimes like shoplifting as a teen, being gay (ie your parents make you homeless), disability, a fire, your landlord ups the rent by 50% or more, your employer decides to fire you, ohh so many reasons.
Instead of being judgmental, you may want to show some empathy and compassion for those less fortunate. SPECIALLY if you call yourself a Christian.
The seethe is amazing.
It’s horrid. Places like that, payday loans/advances and rent to own businesses are nothing short of predatory. You only ever see them near poverty stricken areas of town. They just want to make your life worse
But like do you think rich people need loans to buy basic items like furniture?
The shady stores don't stand a chance there because they would laugh and then buy something that costs more than 3 of the shitty rent to buy furniture sets that have probably been repossessed twice before you got it.
So close to getting the point. So close. Just because someone is poor doesn’t mean that it’s ok to target them with your predatory shit, and it certainly doesn’t mean that these businesses even vaguely belong in working class communities.
Completely misread the point and smugposts about it.
That's all the effort you are getting out of me. So many people there with poor financial decisions.
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payday loans should be illegal tbh, and there should be cowtools in place for lower income people to access capital at acceptable rates.
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There are. When I was young and starting out, I had a $5000 line of credit from my bank linked to my checking account. I also had a shitty low-credit-limit credit card with no perks.
There aren't cowtools for lower-income people with bad credit at low interest rates because they are a credit risk. Making payday loans illegal just completely shuts them out of the financial system.
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payday loans are not a "financial system" lol. trhey are the very definition of predatory lending designed specifically to trap and exploit idiots.
anytime they face real regulation politicians in state houses rally against it, most of them with direct ties to the payday loan industry.
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Where did I say they were "a 'financial system,'" you illiterate mong? But to claim they aren't part of the financial system is even more economically illiterate. Payday loans and pawn shops provide loans no other institution would to idiots with bad credit. Poor people with good credit or no credit history do have options, contrary to your initial claim.
As opposed to any other industry?
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You said they would be shut out of the finanacial system.
If losing access to payday loans shuts them out of a finanacial system, in your own words, how are you not claiming they are in fact a finanacial system?
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Wow, you really are this braindead. I already spelled it out.
Payday lenders aren't a financial system, they are part of the financial system. No other part of the financial system is willing to deal with such high credit risks. Banning this last class of lenders shuts people with bad credit out of the financial system entirely, at least as far as short term loans go.
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Grants to live in liberia. You just have to renounce your citizenship and surrender your passport.
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