View Poll Results: Pay day loans

Voters
44. You may not vote on this poll
  • Regulate - Yes

    36 81.82%
  • Regulate - No

    7 15.91%
  • No opinion

    1 2.27%
Page 35 of 40 FirstFirst ... 253334353637 ... LastLast
Results 341 to 350 of 399

Thread: Consumer Protection Agency Seeks Limits on Payday Lenders

  1. #341
    Why so un**great?
    DifferentDrummr's Avatar
    Join Date
    Jul 2014
    Location
    Facepalm Beach
    Last Seen
    06-04-17 @ 04:57 PM
    Gender
    Lean
    Independent
    Posts
    5,818
    Blog Entries
    3

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Yep, plenty....
    Any public figures among them? Any who actually tried to press charges?
    I fight against the ignorant, irresponsible, and/or closed-minded.
    This group is the worst enemy of America and its freedoms. It includes, but is not limited to, all Trump supporters.

  2. #342
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by DifferentDrummr View Post
    Any public figures among them? Any who actually tried to press charges?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  3. #343
    Why so un**great?
    DifferentDrummr's Avatar
    Join Date
    Jul 2014
    Location
    Facepalm Beach
    Last Seen
    06-04-17 @ 04:57 PM
    Gender
    Lean
    Independent
    Posts
    5,818
    Blog Entries
    3

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Besides against Fannie and Freddie, please. . .
    I fight against the ignorant, irresponsible, and/or closed-minded.
    This group is the worst enemy of America and its freedoms. It includes, but is not limited to, all Trump supporters.

  4. #344
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by DifferentDrummr View Post
    Besides against Fannie and Freddie, please. . .
    Oh, I see...Nah...This is just a game that you can play discounting anything provided that you asked for as "not good enough"....Play it somewhere else.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  5. #345
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 02:17 AM
    Gender
    Lean
    Independent
    Posts
    36,151

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by poweRob View Post
    True. I don't see a need to abolish them but the 400% plus interest rates need to be put to check.
    what is a reasonable interest rate to make it worthwhile to place cash in the hands of the least financially trustworthy members of our society?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  6. #346
    Sage
    poweRob's Avatar
    Join Date
    Sep 2011
    Last Seen
    Yesterday @ 09:01 PM
    Gender
    Lean
    Progressive
    Posts
    35,096

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    what is a reasonable interest rate to make it worthwhile to place cash in the hands of the least financially trustworthy members of our society?
    All business incurs a risk. Hard to justify risk for raping the desperate of their future paychecks at 400%. What's reasonable. Dunno. I know that that is clearly unreasonable.
    Quote Originally Posted by Moderate Right View Post
    The sad fact is that having a pedophile win is better than having a Democrat in office. I'm all for a solution where a Republican gets in that isn't Moore.

  7. #347
    Living in Gods country


    JANFU's Avatar
    Join Date
    Dec 2014
    Last Seen
    @
    Gender
    Lean
    Slightly Liberal
    Posts
    17,894

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    what is a reasonable interest rate to make it worthwhile to place cash in the hands of the least financially trustworthy members of our society?
    You are classing all in one box. I would say many are the working poor, a sudden expense, car, medical comes up and where can they go.
    The ones that do not pay back are not able to use the services, and i would assume reported to some credit agency, which they all use.
    To find the default rate, rate of return for the companies, they would need access to their books.
    Quote Originally Posted by Fenton View Post
    Hillary is the only defense I or anyone else needs.
    Quote Originally Posted by apdst View Post
    Not once have I showed my dick to a woman and she thought it was creepy. In fact, in 100% of the cases, they were pretty excited about it. I don't know who you're showing your **** too.

  8. #348
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 02:17 AM
    Gender
    Lean
    Independent
    Posts
    36,151

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by JANFU View Post
    You are classing all in one box. I would say many are the working poor, a sudden expense, car, medical comes up and where can they go.
    The ones that do not pay back are not able to use the services, and i would assume reported to some credit agency, which they all use.
    To find the default rate, rate of return for the companies, they would need access to their books.
    here's reality: they are all of one box
    that box is labeled 'the most financially risky prospective borrowers who exist'
    if they were not so labelled they would have access to alternative credit at a more favorable interest rate
    these are signature loans. if they had collateral, they could have pawned those assets for quick cash ... which also indicates these debtors to be judgment-proof
    servicing and collecting these payday loans is going to be MUCH more difficult than recovering any less risky portfolio of loans
    this pool of borrowers has already demonstrated that they are a huge risk as debtors
    causing the cost of servicing/collecting those outstanding debts to be very expensive
    and the charge offs, where recovery is found not to be cost effective, is also going to be enormous when compared to any other group of borrowers
    so, the lender will eat a substantial portion of the principal loaned in aggregate, and will incur high labor costs to collect those accounts that are recoverable
    there is no way that someone would expose their cash to such high risk lending unless they were also going to generate a high rate of interest of offset the very high costs of such lending
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  9. #349
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 02:17 AM
    Gender
    Lean
    Independent
    Posts
    36,151

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by poweRob View Post
    All business incurs a risk. Hard to justify risk for raping the desperate of their future paychecks at 400%. What's reasonable. Dunno. I know that that is clearly unreasonable.
    not one payday lender i am aware of has gone out and forced their money upon these high risk borrowers who have no other alternative source of borrowed funds
    those debtors have obligated themselves knowing they are going to have to repay an extraordinary amount of interest
    but despite knowing this they borrow. many of them repeatedly

    so, if you were to put your personal funds at risk within this clientele, what rate of interest would you command to make such loans?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  10. #350
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 09:18 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    here's reality: they are all of one box
    that box is labeled 'the most financially risky prospective borrowers who exist'
    if they were not so labelled they would have access to alternative credit at a more favorable interest rate
    these are signature loans. if they had collateral, they could have pawned those assets for quick cash ... which also indicates these debtors to be judgment-proof
    servicing and collecting these payday loans is going to be MUCH more difficult than recovering any less risky portfolio of loans
    this pool of borrowers has already demonstrated that they are a huge risk as debtors
    causing the cost of servicing/collecting those outstanding debts to be very expensive
    and the charge offs, where recovery is found not to be cost effective, is also going to be enormous when compared to any other group of borrowers
    so, the lender will eat a substantial portion of the principal loaned in aggregate, and will incur high labor costs to collect those accounts that are recoverable
    there is no way that someone would expose their cash to such high risk lending unless they were also going to generate a high rate of interest of offset the very high costs of such lending
    Ok, then there should be no problem in leaving the lenders alone, but rather restricting the times that the borrowers can use the service.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 35 of 40 FirstFirst ... 253334353637 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •