The Payday Lending Business Model

It Doesn't Help, It Hurts! Produced by the Ohio Coalition for Responsible Lending. The group is turning its attention to the problem of payday lending in Ohio. A group of advocates, religious leaders, community groups, labor organizations and citizens like you, the Ohio Coalition for Responsible Lending is dedicated to fair and just lending practices by small loan lenders.

Category:

News & Politics

Tags:

• payday
• lending
• cheat
• debt
• ohio
• loan
• shark
• fraud
• foreclosure

[teslaglobal]

If its so bad just loan from them as much as you can then Like most people do just declare yourself benkrupt. thast what I see lots of people do fuck them cause they fucked you.

[dsteitz1]

well some payday loan companies are decent. i recommend calling 877-271-2850 for a payday loan.

[unytcommsys]

@unytcommsys .... I understand that people can have situations in their life that disrupt their social-economic status. For example a medical situation or a lost of work. These are understandable. However if you're just going to spend money like an idiot, then I have no bleeding hart for you. First thing you do is downgrade what you don't need. Most don't need cable, or that giant SUV. You don't need Soda or fast food.

[unytcommsys]

I had a credit card before I had a job. If your kid can't handle the responsibility, then that just shows how underdeveloped they are. I have plenty of cards. All have been paid off; I don't spend what I don't have.

[Flxiblemetro]

Why do banks and credit unions give college students unsecured credit cards?.., especially low income students.

[unytcommsys]

Most of the people I see in these videos (PayDay Loan videos) are "white." An unfortunate SOB is an unfortunately SOB no matter who they are!

[iren86]

I love your point. Its the same point I have been trying to make, If you can't pay it back then dont take the fucking loan. Very simple thinking maybe minorities should adapt to this type of thought.

[bogohoboho]

the ohio christian alliance is backing the payday loan industry. bought and paid for.

[phitau09]

391% apr is all I ever see. How can that be if a person gets charged a flat fee of 15 dollars per 100 dollars they borrow on a 14 day loan, not an annual loan. If you use basic math, that would be 15%. Are people really that dumb??? The majority of those customers are responsible but then you got the idiots who take out 10 loans at a time. Well no wonder they cant pay them back. Dont blame the industry..blame irresponsible people who cant manager their funds. Blame banks who charge daily fees

[vegaswolf105]

Sounds like the "stimulus" package, give people who can't afford their house payments money and tell them to go to buy stuff with it...it's the way of wall street. Take a look at publicly traded payday loan companies and see who provides them with funding...Chase, and other large banking conglomerates. Now you know why nothing but hand slapping will be done. Lesson....stop buying junk you can't afford. Live within your means...