Comments on: How to Get a Payday Loan (if you must) http://www.doughroller.net/money-management/payday-loan/ Money Management and Personal Finance | The Dough Roller Sun, 12 Feb 2012 16:07:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jimmy http://www.doughroller.net/money-management/payday-loan/comment-page-1/#comment-7579 Jimmy Thu, 12 Jun 2008 15:58:18 +0000 http://www.doughroller.net/?p=919#comment-7579 What ever happened to the original poor man's lender - the pawn shop? Here you have a secured loan. If the item is never redeemed, the person's creditworthiness is not affected. I used to work in a pawn shop. The typical customer was a regular, usually doing some kind of transaction that would net some money, but needed a stake that he didn't have. Payday lenders are a different breed, as they use debt collection techniques to harangue their borrowers. Regardless of how people borrow, the root cause of this mess is relaxed borrowing criteria and people's wants. I don't understand how people can afford to pay for their cable/satellite TV costs, and their cellphone costs. The cost for texting is ridiculous, yet somehow parents are springing for it. Of course, I don't have a teenager anymore. What ever happened to the original poor man’s lender – the pawn shop? Here you have a secured loan. If the item is never redeemed, the person’s creditworthiness is not affected. I used to work in a pawn shop. The typical customer was a regular, usually doing some kind of transaction that would net some money, but needed a stake that he didn’t have.

Payday lenders are a different breed, as they use debt collection techniques to harangue their borrowers.

Regardless of how people borrow, the root cause of this mess is relaxed borrowing criteria and people’s wants. I don’t understand how people can afford to pay for their cable/satellite TV costs, and their cellphone costs. The cost for texting is ridiculous, yet somehow parents are springing for it. Of course, I don’t have a teenager anymore.

]]> By: Patrick http://www.doughroller.net/money-management/payday-loan/comment-page-1/#comment-7578 Patrick Thu, 12 Jun 2008 12:22:14 +0000 http://www.doughroller.net/?p=919#comment-7578 I think this is a good assessment. Payday loans, credit cards, or other loans should never be a long term solution, but can be effective when used as they are intended - as a short term means to get by. The most important thing is to change your money habits. As you mentioned, I think Dave Ramsey is a good place to start. I think this is a good assessment. Payday loans, credit cards, or other loans should never be a long term solution, but can be effective when used as they are intended – as a short term means to get by.

The most important thing is to change your money habits. As you mentioned, I think Dave Ramsey is a good place to start.

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