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Mufaddal

(1,021 posts) Fri Mar 11, 2016, 11:06 AM Mar 2016

Tell "Debt Trap Debbie" Not to Sabotage Obama on Payday Lending Reform

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Tell "Debt Trap Debbie" Not to Sabotage Obama on Payday Lending Reform (Original Post) Mufaddal Mar 2016 OP

Seems like we could let those payday lenders have a really high interest rate that would still brewens Mar 2016 #1

Siding with Republicans on this deplorable move, she's bad for FL, the country & DNC. Got to go. appalachiablue Mar 2016 #2

Put Debbie into a competitive primary and bullshit bills like this NCjack Mar 2016 #3

brewens

(13,567 posts)

1. Seems like we could let those payday lenders have a really high interest rate that would still

Reply to Mufaddal (Original post)

Fri Mar 11, 2016, 11:22 AM

Mar 2016

make them a lot of money, just not 300%. Hell, 60% would have to be pretty good wouldn't it? They can't do business at 60%? That's really high, but I could see myself having used them a few times over the years at that rate. Look at the extra volume they would do if people knew it was more reasonable.

I haven't used something like a payday loan since I pawned my golf clubs when I was about 25. End of the month and I needed money to party on. Got my clubs out the next week in time to go play a round. I still kicked myself for basically throwing away the $25 bucks or so it cost me. Five bucks I wouldn't have even noticed but that would still have been a high interest rate.