Payday Loans Scrutinized

CBS asked:

With more American’s struggling financially, payday loans are reaching low investigating for housing the employed slummy in a vicious wheel of debt. Armen Keteyian reports.

http://en.wikipedia.org/wiki/Visa_Inc.

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16 Responses to “Payday Loans Scrutinized”

  1. vaguy78 says:

    The gentleman at :42 appears to be retrieving a rifle and box of ammo from the back of his truck. Perhaps he is attempting to settle his debts in a non-traditional manner?

  2. SAXORXIII says:

    how would you that legaly?

  3. aclemons1004 says:

    I would never make a deal with the payday devil again. Credit Unions (especially State) offer a much better salary loan advance if your in need of money…for me it works so much better and intrest is much lower and the best part is the intrest taken goes into a separate savings account.

  4. DCNov says:

    if you’re having problems getting a payday loan it’s because of your credit most likely, if your having problems and are interested in repairing your credit score write me. I can help raise it up 150 points legally.

  5. makkbra says:

    payday payday payday payday espece de payday :noel:

  6. lonsdalienoeliste says:

    ahaahh payday in french mean: homosexual
    ahahaha
    pédé xD

  7. tube23k says:

    Damn right, and guess waht? Some of them even take mortgage loan. How irresponsible!

  8. tube23k says:

    Gosh, i can’t believe how idiotic people could be. If you don’t like that kind of interest, then don’t take it. That lady said it herself, “I could live without electricity or fod bla…bla..” but she DID take it anyway. Then how the hell do you blame the lender? You’re not obligated to get a payday loan, got that?? That’s why you’re bankrupted.

  9. vegaswolf says:

    Did they mention credit cards where you can pay interest on the same purchase…for 3 years!!! What about 5.6% APR mortgages that amount to over 100% interest over the life of the mortgage? But CBS will tell you how good and important mortgages are…such crap propaganda. What about being charged $35 bounced check fees after the banks stack checks so you are guaranteed to bounce more checks than just one? The “main stream news” are all paid whores for Wall Street and Bankers – take it at that.

  10. cm275 says:

    Because they are priced to reflect the level of risk inherent in such lending.

  11. skittlesgirl21 says:

    How is this fair?? You say that payday loans charge too much?? What about the banks charging ridiculous amounts for bounced checks.. or what about Rentway and Rent-A-Center. Aren’t they targeting customers with low income?? They over-charge for their products!! Why don’t you go after them, too!!

  12. iren86 says:

    If you dont wanna pay the interest dont get the loan! simple answer

  13. royg6852 says:

    What happened to us being responsible for ourselves? There was a time not too long ago that we borrowed $300 from cashloancity com and had it paid back in a month without any problems. Heck, our credit cards charged us $40 for being a day late and charged us another $40 because that put us over our limit. Why isn’t that being talked about?

  14. malletdiva02 says:

    The ones in my city are conviently placed near the low-incomes neighborhoods.

  15. ClamTaco says:

    its AMAZING what these people will do to prey on the vulnerable people who need a LOAN………

  16. redradiodog says:

    They are there to help people….yah right. Then why are their interest rates so damn high?

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