An issue on the April ballot is a fee for Kansas City payday loan businesses. If passed, owners would have to pay a $1,000 business fee . . . Credit experts say more and more homeowners are turning to payday loans to avoid foreclosure. The loans are easy to get, but have to be repaid in two weeks at annual rates topping 300 and 400-percent.
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$1,0000 is a drop in the bucket tho a payday loan op. Sounds like KC is trying to cash in on the action instead of doing anything about the problem.
ReplyDeleteBlah, blah, blah...
ReplyDeletePayday Loan operations are legalized loan-sharks that prey upon the poor...nothing more, nothing less. Try do defend it all you wish. Post your ads here all you want. It doesn't change the fact that you are the scum of the earth.
Die in a fire and burn in hell you bastards. Preferably at 300 to 400% higher temperature.
Same goes to store credit card companies that charge high % rates and companies who let people who make $20,000 have a credit limit that is more than they make. Citi Bank, American Express, shame on you.
ReplyDeleteThe only reason they could possibly have for doing that is they hope to take their house, car, future earnings or whatever they can take. Unless of course a payday loan or title loan company wipes them out first.
The customers who use Payday Loans understand the deal. They're not blind to the rates they are paying. These stores meet a credit need that no one else (except street money from the nearby leg-breaker) meets.
ReplyDeleteKansas City did the same thing with the whores dancing on the poles at the strip clubs. Oh I'm sorry, Professional dancers.
ReplyDelete