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Where's the Outrage about Payday Loans?

totalbankruptcy.com — BusinessWeek exposed microlending practices in Mexico, but Payday lenders in the US use equally shocking methods. Where's the media outcry to protect our citizens?

Bury
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  • datababble, on 01/10/2008, -0/+0Sadly, many people in the US live paycheck to paycheck. One accident or setback and they need to acquire money from somewhere and unfortunately it's usually these scumbags. People need to build emergency funds to prevent this (like most people will ever do this...).
  • RockStories, on 01/10/2008, -0/+1Sadly, Data, many people never have the opportunity, and getting in debt to this kind of place makes that possibility all the more remote.
    • datababble, on 01/10/2008, -0/+0Many people don't have the opportunity, but many people also live above their means and make stupid financial decisions. I choose to live below my means and save money and often times catch flack from my friends and family for not buying the biggest and best out there. So, yes, many people may not have the opportunity, but many people just can't control their spending.
    • techfun, on 01/10/2008, -0/+1There are a lot of people on both sides of the 'financially sustainable lifestyle' line. There are millions of people who do have no chance to build up any kind cushion to fall back on, but there are also millions - including many of my friends - who repeatedly make poor choices for the sake of instant gratification. I have friends who bought houses that were a little beyond their budget they were counting on the housing prices to continue to climb to make their financial plans pan out.

      If they had gone down to Atlantic City and bet a couple hundred grand that they could predict the housing market people would have called them insane, but lenders were willing to take that bet.
  • acedigger, on 01/11/2008, -0/+1payday loans are bad bad news. the only way they can be truly useful to anyone, is if the loan will be paid back shortly, as in next payday. otherwise stay far far away.
  • welolseeees, on 01/30/2008, -0/+0Need Fast Cash? http://www.borrowing-investing-solutions.com/
    Low Interest Rates. Quick & Easy. Flexible Payment Options.
    Read More About Payday Loans: http://www.borrowing-investing-solutions.com/payda ...
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