I have heard about these... It all comes down to the mantra "I want it and I want it <em class='bbc'>now</em>"... unbelievable.
They are trying to outlaw these things here as well.
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Quote:I have heard about these... It all comes down to the mantra "I want it and I want it <em class='bbc'>now</em>"... unbelievable.
They are trying to outlaw these things here as well.
I really don't think it's "I want it and I want it now" ... I think it's more like "I NEED it now."
I find it hard to believe anyone would take one of these loans unless it was total desperation.
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"I learned that dreams don't work without action. I learned that no one could stop me but me. I learned that love is stronger than hate. And most important, I learned that God does exist. He and/or she is right inside you underneath the pain, the sorrow and the shame."
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There are times when usury laws come to mind . .. I think Tsu is on the right heading here. It's desperation because 400% interest is out of this world. It's a shame, really, that even as GDP and GNP have both risen since the 1980s, real wages have fallen.
I am the milkman of human kindness
And I will bring an extra pint -- B. Bragg
Corporations, which should be the carefully restrained creatures of the law and the servants of the people, are fast becoming the people's masters. -- Grover Cleveland
When the laws are used to make the rich richer and the potent more powerful, the humble members of society -- the farmers, mechanics, and laborers -- who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government -- Andrew Jackson
"Capitalism takes no prisoners and kills competition where it can." -- Vince Cable
I think that "I want it and I want it now" generally occurs before the "I need it and I need it now", that is, buying stuff without thinking if you actually can afford it, and then having plenty of month left at the end of your money. Of course that does not apply to everyone, and some people actually do have to go by with less than they need for basic stuff, but a large number of people with debt problem have to go by with less than they need for basic necessities + their mobile phone bill+ their car + their big television set + god knows what else.
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Oh, it does. The West today has an incredibly materialistic culture. We all like our gadgets, we like them "new and improved", and we fail to put off for tomorrow when we can afford it for what we can buy today when we can't.However, a Payday loan system, such as described here, is an avenue used principally by the poor who, honestly, have been left behind in Western economies.
I am the milkman of human kindness
And I will bring an extra pint -- B. Bragg
Corporations, which should be the carefully restrained creatures of the law and the servants of the people, are fast becoming the people's masters. -- Grover Cleveland
When the laws are used to make the rich richer and the potent more powerful, the humble members of society -- the farmers, mechanics, and laborers -- who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government -- Andrew Jackson
"Capitalism takes no prisoners and kills competition where it can." -- Vince Cable
