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 38 of 40 FirstFirst ... 283637383940 LastLast
Results 371 to 380 of 399

Thread: Consumer Protection Agency Seeks Limits on Payday Lenders

  1. #371
    Kinky
    tres borrachos's Avatar
    Join Date
    Feb 2012
    Location
    New England
    Last Seen
    Yesterday @ 08:50 PM
    Gender
    Lean
    Moderate
    Posts
    39,034

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Then they are SOL and should be. But the biggest thing i think is in the qualification. If someone brings home $600 every 2 weeks there is no way they should be able to write for $500.
    I don't know much about how they qualify these people, or what verification you have to provide. Paychecks? But even if they could, again, using the example you gave here, I don't know that if someone brings home $600 every 2 weeks that he/she can't pay $500 at the next paycheck. There are a lot of people in this country living paycheck to paycheck.

    It's incumbent upon the borrower to know what he can afford and when he can pay it back. That was always the case until the left decided that people are too stupid to take care of themselves and are victims of their own stupidity. Not that they actually say that - they use terms like "predator" instead.
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

  2. #372
    Sage
    Cephus's Avatar
    Join Date
    Mar 2007
    Location
    CA
    Last Seen
    Yesterday @ 11:13 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    29,755

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by tres borrachos View Post
    I don't know much about how they qualify these people, or what verification you have to provide. Paychecks? But even if they could, again, using the example you gave here, I don't know that if someone brings home $600 every 2 weeks that he/she can't pay $500 at the next paycheck. There are a lot of people in this country living paycheck to paycheck.

    It's incumbent upon the borrower to know what he can afford and when he can pay it back. That was always the case until the left decided that people are too stupid to take care of themselves and are victims of their own stupidity. Not that they actually say that - they use terms like "predator" instead.
    Most of these stores, and I can only go by my own experience here, look at the income and will not give loans for more than they think can be reasonably repaid the next paycheck. It's all due diligence, they don't just hand out money to any Tom, Dick and Harry that comes through the door, they only give what they think is a reasonable amount, based on reasonable verification.
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

    Blog me! YouTube me! VidMe me!

  3. #373
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Cephus View Post
    Most of these stores, and I can only go by my own experience here, look at the income and will not give loans for more than they think can be reasonably repaid the next paycheck. It's all due diligence, they don't just hand out money to any Tom, Dick and Harry that comes through the door, they only give what they think is a reasonable amount, based on reasonable verification.
    Could you give an example? Then I'll tell you what I witnessed.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #374
    Sage
    Cephus's Avatar
    Join Date
    Mar 2007
    Location
    CA
    Last Seen
    Yesterday @ 11:13 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    29,755

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    Could you give an example? Then I'll tell you what I witnessed.
    An example of what? Do you not know what due diligence and making good decisions are?
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

    Blog me! YouTube me! VidMe me!

  5. #375
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by Cephus View Post
    An example of what? Do you not know what due diligence and making good decisions are?
    You're saying that these places do their due diligence and only offer what people can afford, and you claim to have had a hand in setting one up. I on the other hand have a spouse that worked for Check into Cash. So, I'd really be interested in what you think due diligence is for these places.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  6. #376
    Kinky
    tres borrachos's Avatar
    Join Date
    Feb 2012
    Location
    New England
    Last Seen
    Yesterday @ 08:50 PM
    Gender
    Lean
    Moderate
    Posts
    39,034

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    You're saying that these places do their due diligence and only offer what people can afford, and you claim to have had a hand in setting one up. I on the other hand have a spouse that worked for Check into Cash. So, I'd really be interested in what you think due diligence is for these places.
    You have to have verifiable income. You have to have a bank account. You have to be over 18. You have to be a real person. Are you saying that they're loaning money to people who don't exist?
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

  7. #377
    Sage
    Cephus's Avatar
    Join Date
    Mar 2007
    Location
    CA
    Last Seen
    Yesterday @ 11:13 PM
    Gender
    Lean
    Slightly Conservative
    Posts
    29,755

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by j-mac View Post
    You're saying that these places do their due diligence and only offer what people can afford, and you claim to have had a hand in setting one up. I on the other hand have a spouse that worked for Check into Cash. So, I'd really be interested in what you think due diligence is for these places.
    They all have to verify employment and income and make good decisions on who to give money to and who to send packing. Do you honestly think they give any amount of money to any idiot that walks in the door?
    There is nothing demonstrably true that religion can provide the world that cannot be achieved more rationally through entirely secular means.

    Blog me! YouTube me! VidMe me!

  8. #378
    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
    Well, if it's about me, then you're in the wrong place.
    I'll grant that you accepted personal responsibility for past mistakes, and that's rare for a conservative to do publicly. Good on you for it.

    You (all of you) just need to tell your elected officials to do the same.
    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.

  9. #379
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by tres borrachos View Post
    You have to have verifiable income. You have to have a bank account. You have to be over 18. You have to be a real person. Are you saying that they're loaning money to people who don't exist?
    Quote Originally Posted by Cephus
    They all have to verify employment and income and make good decisions on who to give money to and who to send packing. Do you honestly think they give any amount of money to any idiot that walks in the door?
    Verifying income consists of bringing in the most recent paystub. They don't call your work or anything. So, what I am saying is what I outlined before...you have a person that makes a take home, or net pay of $300 per week, they borrow $500 with a payback in two weeks of $575. Now Tres already alluded to her thinking that was just fine... I am saying that you can't take all but $25 of a persons income and think that is ok...You have got to know that these people are living paycheck to paycheck, and if you take all of their pay, they can't pay other bills, and will likely default on you, at which time you just deposit their check which bounces and costs them more fees they don't have...

    I think that a limit of 50% of take home pay is plenty to borrow and have to give up in two weeks...This isn't supposed to be a long term arrangement right?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  10. #380
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Consumer Protection Agency Seeks Limits on Payday Lenders

    Quote Originally Posted by DifferentDrummr View Post
    I'll grant that you accepted personal responsibility for past mistakes, and that's rare for a conservative to do publicly. Good on you for it.

    You (all of you) just need to tell your elected officials to do the same.
    What is it you'd like elected officials to bear their soul on to you?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 38 of 40 FirstFirst ... 283637383940 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
  •