Payday Loans Scrutinized
With more American’s struggling financially, payday loans are coming under scrutiny for trapping the working poor in a vicious cycle of debt. Armen Keteyian reports.
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With more American’s struggling financially, payday loans are coming under scrutiny for trapping the working poor in a vicious cycle of debt. Armen Keteyian reports.
Did they mention credit cards where you can pay interest on the same purchase…for 3 years!!! What about 5.6% APR mortgages that amount to over 100% interest over the life of the mortgage? But CBS will tell you how good and important mortgages are…such crap propaganda. What about being charged $35 bounced check fees after the banks stack checks so you are guaranteed to bounce more checks than just one? The “main stream news” are all paid whores for Wall Street and Bankers – take it at that.
Gosh, i can’t believe how idiotic people could be. If you don’t like that kind of interest, then don’t take it. That lady said it herself, “I could live without electricity or fod bla…bla..” but she DID take it anyway. Then how the hell do you blame the lender? You’re not obligated to get a payday loan, got that?? That’s why you’re bankrupted.
Damn right, and guess waht? Some of them even take mortgage loan. How irresponsible!
ahaahh payday in french mean: homosexual
ahahaha
pédé xD
payday payday payday payday espece de payday :noel:
if you’re having problems getting a payday loan it’s because of your credit most likely, if your having problems and are interested in repairing your credit score write me. I can help raise it up 150 points legally.
I would never make a deal with the payday devil again. Credit Unions (especially State) offer a much better salary loan advance if your in need of money…for me it works so much better and intrest is much lower and the best part is the intrest taken goes into a separate savings account.
how would you that legaly?
The gentleman at :42 appears to be retrieving a rifle and box of ammo from the back of his truck. Perhaps he is attempting to settle his debts in a non-traditional manner?
she fat
I work for a “Payday Loan” office…they’re fucking evil. Trust me.
The company I work for treats their employees like shit, and they don’t give a goddamn about the customer.
fuck a payday loan
Payday loans benefit people who get paid monthly. You have to wean yourself off them and that is what I am doing. I believe that the government should regulate the interest of payday loaners. People will call that socialism, but it is better to do that then to take advantage of low income middle class people. School systems, parents, communities, and our federal government need to take a class in economic and financial literacy.
BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!
@HowlinJay I work for a payday loan company myself and get treated like shit. I got trained to do things I thought I was suppose to and all of a sudden my manager has done nothing but treated me like shit telling me everything I’m doing is “wrong”.
figure out your interest rate for the first year of a 30 year mortgage. Ask your bank for a list of their fees. Payday loans can cost you money just like anything else you borrow against. Here is a tip don’t borrow money in any fashion. I am a lender and we don’t loan to people who don’t have the ability to pay the money back. After I pay all of my bills to run the company I don’t make anything close to 400%, that is such a lie.
Yes payday loans are evil and prey on the most vulnerable members of society. Even so, 400% is not so bad. Here in the UK thethe payday loan interest rates are between 2000% and 4000%. It’s not against the law but it should be!
what she says was 1500- lets see the proof of that… its the interest on the loan… well duh! Payday loans are meant to be paid THE NEXT PAYDAY- not a year later— maybe we should just give irresponsible people money-that would fix everything… just print more money, thats it!
payday loans are just mega expensive debt wrapped up in candy floss…i say don’t get one unless you have a death-wish!!
@PaintPissOrCabaret Thank You, you are so right, they are evil because they make it so easy to get quick cash and charge piss-taking amounts of interest…i may very well be one of the next statistics facing bankruptcy as a result of using them!!
this is financial slavery. I’ve started working on a short documentary about these places and their victims with that truth in mind.
and this payday loan bimbo? The stupid looking blond? “A small percentage” my ass.. I know four people who have had to declare bankruptcy because of these places. And it was, in fact COMPLETELY due to their relationships with payday lenders. They were living on nothing at the end. Absolutely nothing. And still couldn’t pay rent because those bastards worked it so their “payback” came out at the same time rent did.. thus making it necessary to borrow more.
Bimbos shouldn’t be allowed on tv.
watch my video and let me know what you think.
I don’t know about everyone elses experiences but we got $300 from cashloancity com and had it paid back after one extension. My wife and I couldn’t have been more pleased with the site.
If you have been turned down for a payday loan, or are looking for a great place to get one, try 1-877-271-2850.