Quote (cambovenzi @ Jan 19 2018 07:36pm)
Have you considered that there might be some pretty big differences between profitable business models around small payday loans vs the reasons for the recession?
Or do you think all loans to poor people with bad credit risks large scale economic collapse?
I really do not think you need to educate people about the fact that one 2k short term loan has a lower impact on the economy than one 400k long term loan does. Regardless of that, though, giving a loan to a person who is not creditworthy enough for that loan should simply not be allowed. Creditworthiness isn't a gamble you take; it needs to be a near certainty.
Furthermore, the reason why payday loans are a bad thing is because it enables people in their bad money management. If somebody cannot afford a 2k purchase because payday hasn't arrived, they should know that they simply should save up more money. The payday loan won't help them; it's just procrastination of the fact that they need to cut some other expenses.
This post was edited by Leevee on Jan 19 2018 11:42am