How do people get suckered into (mo

Discussion in 'Credit Talk' started by Melissa, Feb 14, 2002.

  1. Melissa

    Melissa Well-Known Member

    those payday loan places? I just don't understand it. The seem like such shady scam places and seeing them all around town makes me want to throw up and hearing their commercials even gags me more. I keep hearing of people using them and going to several in one day so they can get money and then they of course don't have the money to pay them come next payday and bam the sharks are out of the water. They seem worse than the mob to me. I have been short for cash more than my share but I would never step foot into a place like that.
     
  2. Andrew

    Andrew Well-Known Member

    I'll never defend them, but I used one just before X-Mas, because an EFT for a loan I have was debited twice in one month instead of once and it left me short, so I would have had six bounced checks.

    However, it made me sick just to go in there.
     
  3. dfwgt

    dfwgt Well-Known Member

    I went there to cash a check last year and almost gagged when I saw their loan rates...330 percent!!!

    That's pratically loan shark rates...


    GT
     
  4. sam

    sam Well-Known Member

    desparate times might force people into desparate situations..
     
  5. Melissa

    Melissa Well-Known Member

    I know but your worse off usually than when you started. I think I would rather just wait until our next payday no matter how desparate I was.
     

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