democracy1st
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Sat Jan-24-09 01:49 AM
Original message |
Screw Credit Card Companys and PayDay Loans |
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Edited on Sat Jan-24-09 01:53 AM by democracy1st
A quarter of all delinquent mortgages are from individuals over the age of 50, 90% of all payday loan customers are repeat customers. 1 in 4 bankruptcies are of people aged 55 yrs and older,compared to 1991 only 1 in 12 filed at that age.
source Now on PBS
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Double T
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Sat Jan-24-09 01:56 AM
Response to Original message |
1. Screw our entire financial system and all the corrupt financial institutions. |
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I'll bet the loan sharks are pissed off at their competition.
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Tangerine LaBamba
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Sat Jan-24-09 01:58 AM
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3. You'll get a better interest rate |
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on the street or from the mob than you will from credit card companies.
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Tangerine LaBamba
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Sat Jan-24-09 01:57 AM
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are mostly because of medical bills that the people cannot pay.
Who on earth thinks we don't need national, single payer health insurance?
These are disastrous figures.
Virginia just passed a law capping interest rates on payday loans. They were usurious. But, the new limits are still stiff.
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Orrex
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Sat Jan-24-09 02:06 AM
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4. I'm happy to report... |
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that a PayDay Loans branch closed here in western Pennsylvania a few months back. I just figured that they'd gone under, but I recently learned from the neighboring store that they were shut down. My source said that one day "the government" showed up with a cease-and-desist order, and that was that.
Glad to see it go. I don't live in an economic boomtown, and predators like PayDay Loans don't help things one bit.
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Trajan
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Sat Jan-24-09 03:34 AM
Response to Reply #4 |
5. Oregon passed a law to restrict the enormous interest rates .... |
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The whining from the industry because they were now unable to rip people off fell on deaf ears ....
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DU
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Sun May 05th 2024, 02:35 PM
Response to Original message |