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> <channel><title>Comments on: Avoid Payday Lenders Like the Plague</title> <atom:link href="http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/feed/" rel="self" type="application/rss+xml" /><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/</link> <description>Eliminate Debt, Enjoy Life</description> <lastBuildDate>Wed, 08 Feb 2012 06:34:04 +0000</lastBuildDate> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.3.1</generator> <xhtml:meta xmlns:xhtml="http://www.w3.org/1999/xhtml" name="robots" content="noindex" /> <item><title>By: Payday Loan Consolidation</title><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/#comment-3454</link> <dc:creator>Payday Loan Consolidation</dc:creator> <pubDate>Wed, 13 Jan 2010 18:52:43 +0000</pubDate> <guid
isPermaLink="false">http://www.moneyrelationship.com/uncategorized/avoid-payday-lenders-like-the-plague-2/#comment-3454</guid> <description>What I have found is most people don&#039;t see the negative effects of getting payday loans untill they started making payments to repay the loan. I think there should be some form of legislation regulating internet payday lenders. They are allowed to lend in any state that doesnt allow store fronts.
.-= Payday Loan Consolidation´s lastest post ..&lt;a href=&quot;http://paydayfreedom.com/uncategorized/hello-world/&quot; rel=&quot;nofollow&quot;&gt;Payday Loan Debts - Get the Freedom You Deserve&lt;/a&gt; =-.</description> <content:encoded><![CDATA[<p>What I have found is most people don&#8217;t see the negative effects of getting payday loans untill they started making payments to repay the loan. I think there should be some form of legislation regulating internet payday lenders. They are allowed to lend in any state that doesnt allow store fronts.<br
/> .-= Payday Loan Consolidation´s lastest post ..<a
href="http://paydayfreedom.com/uncategorized/hello-world/" rel="nofollow">Payday Loan Debts &#8211; Get the Freedom You Deserve</a> =-.</p> ]]></content:encoded> </item> <item><title>By: brista</title><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/#comment-393</link> <dc:creator>brista</dc:creator> <pubDate>Sun, 04 Jan 2009 01:36:12 +0000</pubDate> <guid
isPermaLink="false">http://www.moneyrelationship.com/uncategorized/avoid-payday-lenders-like-the-plague-2/#comment-393</guid> <description>In Ohio, they recently voted in a proposition to curb some of the payday lenders. There will be a cap on how much interest can be charged, borrowers will have at least 30 days to pay back the loan, etc. Nothing in the proposition banned payday lending or made it illegal.
You should have seen some of the pro-payday campaign ads...they&#039;d show a &quot;workin&#039; man&quot; in his farm clothes on a dirt road. &quot;If this here truck broke down on me before payday,&quot; he said, tapping his hand on the worn pickup, &quot;and I needed money, why, it ought to be my right as an American to visit a payday lender! It&#039;s my money, isn&#039;t it? Vote no on proposition (whatever-number). It&#039;s about &lt;I&gt;choices&lt;/i&gt;!&quot;
There&#039;s a similar one with a suburban mom wrangling a couple kids in the kitchen, sticking a band-aid on one of them. &quot;If Johnny gets sick before payday,&quot; she started as the kid hopped off the kitchen counter and went to go play, &quot;I might need to borrow some money to make sure he gets the treatment he needs. But &lt;I&gt;some people&lt;/i&gt; don&#039;t think I should be able to do that...&quot; etc., etc.
Anyway, it passed.</description> <content:encoded><![CDATA[<p>In Ohio, they recently voted in a proposition to curb some of the payday lenders. There will be a cap on how much interest can be charged, borrowers will have at least 30 days to pay back the loan, etc. Nothing in the proposition banned payday lending or made it illegal.</p><p>You should have seen some of the pro-payday campaign ads&#8230;they&#8217;d show a &#8220;workin&#8217; man&#8221; in his farm clothes on a dirt road. &#8220;If this here truck broke down on me before payday,&#8221; he said, tapping his hand on the worn pickup, &#8220;and I needed money, why, it ought to be my right as an American to visit a payday lender! It&#8217;s my money, isn&#8217;t it? Vote no on proposition (whatever-number). It&#8217;s about <i>choices</i>!&#8221;</p><p>There&#8217;s a similar one with a suburban mom wrangling a couple kids in the kitchen, sticking a band-aid on one of them. &#8220;If Johnny gets sick before payday,&#8221; she started as the kid hopped off the kitchen counter and went to go play, &#8220;I might need to borrow some money to make sure he gets the treatment he needs. But <i>some people</i> don&#8217;t think I should be able to do that&#8230;&#8221; etc., etc.</p><p>Anyway, it passed.</p> ]]></content:encoded> </item> <item><title>By: Adam</title><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/#comment-37</link> <dc:creator>Adam</dc:creator> <pubDate>Fri, 18 Jul 2008 03:18:00 +0000</pubDate> <guid
isPermaLink="false">http://www.moneyrelationship.com/uncategorized/avoid-payday-lenders-like-the-plague-2/#comment-37</guid> <description>It&#039;s 586% because you are only borrowing the money for two weeks. For example, if it was a 1 year loan the rate would be 22% (like many credit cards), but since you are only borrowing the money for two weeks, it really magnifies the percentage amount of interest you are paying. I hope that makes it easier to understand. There is some calculator work that I had to do, but I didn&#039;t think you wanted to learn about that!</description> <content:encoded><![CDATA[<p>It&#8217;s 586% because you are only borrowing the money for two weeks. For example, if it was a 1 year loan the rate would be 22% (like many credit cards), but since you are only borrowing the money for two weeks, it really magnifies the percentage amount of interest you are paying. I hope that makes it easier to understand. There is some calculator work that I had to do, but I didn&#8217;t think you wanted to learn about that!</p> ]]></content:encoded> </item> <item><title>By: Pallavi</title><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/#comment-36</link> <dc:creator>Pallavi</dc:creator> <pubDate>Fri, 18 Jul 2008 02:26:00 +0000</pubDate> <guid
isPermaLink="false">http://www.moneyrelationship.com/uncategorized/avoid-payday-lenders-like-the-plague-2/#comment-36</guid> <description>how did u come up with the 586%?</description> <content:encoded><![CDATA[<p>how did u come up with the 586%?</p> ]]></content:encoded> </item> <item><title>By: Alex Bender</title><link>http://www.moneyrelationship.com/borrowing/avoid-payday-lenders-like-the-plague/#comment-32</link> <dc:creator>Alex Bender</dc:creator> <pubDate>Thu, 17 Jul 2008 04:11:00 +0000</pubDate> <guid
isPermaLink="false">http://www.moneyrelationship.com/uncategorized/avoid-payday-lenders-like-the-plague-2/#comment-32</guid> <description>A big problem I see down south is the similar &quot;Title Pawn&quot; loan sharks. They are prolific in poor areas and target those with little knowledge of finances and interest rates. Great blog by the way!</description> <content:encoded><![CDATA[<p>A big problem I see down south is the similar &#8220;Title Pawn&#8221; loan sharks. They are prolific in poor areas and target those with little knowledge of finances and interest rates. Great blog by the way!</p> ]]></content:encoded> </item> </channel> </rss>
