PebHmong Discussion Forum

General Category => General Discussion => Topic started by: hmgROCK on July 04, 2019, 06:28:59 AM

Title: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: hmgROCK on July 04, 2019, 06:28:59 AM

call it whatever you want
cash advance, payday loan, car title..etc...

these companies that gives out $100-500 small loan
and charge 25-50% interest

$200 (loan) x 25% (interest)= $250 (new balance next month if you don't pay)

they are a Predatory lender and they pray on the uneducated and people in bad situation

glad to see it get wipe out during the violent storm that we been having in the last few days

p=pebhmong so you know im legit
(https://i.imgur.com/fGWanxx.jpg)

Title: Re: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: VillainousHero on July 04, 2019, 06:34:41 AM

loan sharks...legal ized...small business...

Title: Re: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: Yebleng on July 04, 2019, 11:20:32 AM

I am ashamed to say that I know someone who is close to me who did those loans. Title loans and sold his wife's jewelry  :'( :knuppel2: :idiot2:

Title: Re: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: hmgROCK on July 05, 2019, 08:19:13 AM

Quote from: Yebleng on July 04, 2019, 11:20:32 AM

I am ashamed to say that I know someone who is close to me who did those loans. Title loans and sold his wife's jewelry  :'( :knuppel2: :idiot2:

damn sad lur...

i would ask family member first
and lots of ramen

anyways....

the storm came and ate up this shark loan business
torn the roof and siding off
makes me happy hahhahaha   :2funny: :2funny: :2funny:

Title: Re: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: DuMa on July 05, 2019, 12:28:22 PM

Depending on a person's situation.  If you stuck in the hole and no one would loan you, you will have no choice but to take a loan.

How about Walmart charging you to cash your check?

I did a few times cuz I don't want to cash that check at my bank to have a money trail forming. 

Either smart the system or have the system smart you out. 

Title: Re: Predatory lending with 25-50% interest rate... (aka cash advance, payday, etc..)
Post by: theking on July 15, 2019, 02:23:47 AM

Quote from: hmgROCK on July 04, 2019, 06:28:59 AM

call it whatever you want
cash advance, payday loan, car title..etc...

these companies that gives out $100-500 small loan
and charge 25-50% interest

$200 (loan) x 25% (interest)= $250 (new balance next month if you don't pay)

they are a Predatory lender and they pray on the uneducated and people in bad situation

glad to see it get wipe out during the violent storm that we been having in the last few days

p=pebhmong so you know im legit

At least their businesses are "legit" so there's more respect for them than say frauds that purposely go "underground" to steal from the poor...

They typically deal with high risk customers so the high interest is a way to protect their business...com mon sense common knowledge...Ki nd of like how some high risk customers can't qualify for a car loan or can only qualify with much higher rates..