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 36 of 40 FirstFirst ... 263435363738 ... LastLast
Results 351 to 360 of 399

Thread: Consumer Protection Agency Seeks Limits on Payday Lenders

  1. #351
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 01:00 AM
    Gender
    Lean
    Independent
    Posts
    36,148

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Ok, then there should be no problem in leaving the lenders alone, but rather restricting the times that the borrowers can use the service.
    just the opposite
    the lenders MUST be regulated/monitored so that they do not exploit the most easily exploited community in our society
    but why would we want to limit the numbers of times that the financially needy can use these high rate services
    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

  2. #352
    Sage
    poweRob's Avatar
    Join Date
    Sep 2011
    Last Seen
    Yesterday @ 09:27 PM
    Gender
    Lean
    Progressive
    Posts
    35,066

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    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?
    As you said... "borrowers who have no other alternative source of borrowed funds"

    Like I already told you, I don't have a number. But I know 400% is stupid.
    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.

  3. #353
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    just the opposite
    the lenders MUST be regulated/monitored so that they do not exploit the most easily exploited community in our society
    but why would we want to limit the numbers of times that the financially needy can use these high rate services
    Because it is the cumulative rate that is the concern...On its own, one payday loan with a paid account only amounts to about 15%, but take that to 26 rolled over loans, and you get over 400%....So, limiting the amount of times still allows the people who need them to use them, but doesn't let the lender blatantly abuse the borrower just because they can.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #354
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 01:00 AM
    Gender
    Lean
    Independent
    Posts
    36,148

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by poweRob View Post
    As you said... "borrowers who have no other alternative source of borrowed funds"

    Like I already told you, I don't have a number. But I know 400% is stupid.
    then it seems you have this huge market ready to borrow your own lower cost 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

  5. #355
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 01:00 AM
    Gender
    Lean
    Independent
    Posts
    36,148

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Because it is the cumulative rate that is the concern...On its own, one payday loan with a paid account only amounts to about 15%, but take that to 26 rolled over loans, and you get over 400%....So, limiting the amount of times still allows the people who need them to use them, but doesn't let the lender blatantly abuse the borrower just because they can.
    do you think the lender will extend more credit than they expect can be repaid?
    if they do, it will be the creditor's loss
    so, are you wanting to protect the lenders or the borrowers?
    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. #356
    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
    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.
    If you think it's okay to demand personal responsibility from the other party but not your own, it's pretty clear who's lost this part of the debate.
    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.

  7. #357
    Sage

    Ahlevah's Avatar
    Join Date
    Aug 2009
    Location
    Flyoverland
    Last Seen
    Today @ 04:01 AM
    Gender
    Lean
    Other
    Posts
    5,922

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by gdgyva View Post
    but we have too many people who cant/wont control their finances themselves, who use these predatory lendors
    And before there were payday and title lenders they had Luigi and his cousin Guido standing in the background with his brass knuckles.
    Нава́льный 2018

  8. #358
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by justabubba View Post
    do you think the lender will extend more credit than they expect can be repaid?
    if they do, it will be the creditor's loss
    so, are you wanting to protect the lenders or the borrowers?
    Actually I would love it if these types of places were not needed....But, with the disappearance of not only math standards, but the teaching of how to budget, along with liberal government message of 'don't worry we'll take care of you, by soaking the rich'.... We breed a generation of instant gratification, self entitled, jack asses then wonder why we have so many that can't budget to pay the rent....So, in the end, I don't know...I don't want to protect people that put themselves in this situation, anymore than I want to protect the scum that prey on their need of some quick cash and exploit it to outrageous APR's....They both suck.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  9. #359
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by DifferentDrummr View Post
    If you think it's okay to demand personal responsibility from the other party but not your own, it's pretty clear who's lost this part of the debate.
    What? Wait....if anything, I am arguing the exact 180 degree opposite of a traditional conservative argument on this one....Good God, take off the blinders for a second.

    If you have been paying the slightest bit of attention around here you notice how my argument is getting thanked by traditional liberals, and panned by those to the right....

    That ought to tell you something....Ya think?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #360
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 12:51 PM
    Gender
    Lean
    Conservative
    Posts
    30,274

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Ahlevah View Post
    And before there were payday and title lenders they had Luigi and his cousin Guido standing in the background with his brass knuckles.
    I'm not so sure we still don't....And we outlawed that practice...So, I guess short of breaking legs, anything goes....right?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 36 of 40 FirstFirst ... 263435363738 ... 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
  •