People who take out payday loans....

roh999

then moan about the interest afterwards...nothing but idiots!

cloud360

when they get the loan, the customer representative is misleading in many cases is what i heard

Pollycat

roh999 wrote: »

then moan about the interest afterwards...nothing but idiots!

Maybe - but desperation can make you lose sense of what's the best thing for you.

Or some people don't understand how the interest works.

Just think yourself lucky that you're (presumably) not in a situation where you have to consider a payday loan.

Particularly nasty and unnecessary vent, imho.

roh999

Pollycat wrote: »

Maybe - but desperation can make you lose sense of what's the best thing for you.

Or some people don't understand how the interest works.

Just think yourself lucky that you're (presumably) not in a situation where you have to consider a payday loan.

Particularly nasty and unnecessary vent, imho.

mmmm yeh its easy to say you didnt understand how it works after the money has been spent,no after all the recent publicity people still do it...not nasty just true.

System

I wouldn't get one but I believe if you use them as you're meant too eg borrow the money for only a few days then pay it back. Then they are not too bad Apr is not a good judge when the time period of a loan is very short.

The problems happen when people borrow and don't pay it back quickly.

fluffnutter

roh999 wrote: »

then moan about the interest afterwards...nothing but idiots!

Not really understanding the issues of poverty in today's capitalist society are you? No matter - the Daily Mail called. It wants its columnist back.

Rotor

More to do with poor budgeting than poverty or capitalism.

Quite how taking an expensive loan is a relief to poverty I fail to see.
It is merely taking a lot from tomorrow to have a little today! It's short sighted and self destructive

WiggyDiggyPoo

Ive never heard anyone moan, I thought you just got another loan to pay the interest on the previous one?:p

hollydays

Easy to laugh at the vulnerable. They've not had the advantages in life that some of us have had. When all your choices are taken away and you are desperate...
Unkind unnecessary post

Dukesy

The phrase "If you can't afford it today, how are you going to pay for it tomorrow?" rings in my ears every time I see the adverts for Payday loans.

Perhaps more people should be brought up with those words being hammered into them.

I see no point in lambasting people for making the decision to use payday loans, but there are certainly better ways.

richardvc

I am playing devils advocate here but surely the problems arise if these loans are not paid back on time - just like a credit card ?

I am lucky that I am now out of debt but when times were desperate I may have been tempted.

Whilst I am sure there are those who have tales to tell there must also be those who have had a payday loan and it has actually been beneficial/a lifesaver ?