People who take out payday loans....

bobobins

roh999 wrote: »

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

Why stop there? What about people who drive cars then complain that they have accidents? Idiots! People who play football, then complain when they get injured? Idiots! People who go to school and complain when they get bullied? Idiots! People who go to work to pay tax for things they don't agree with? Idiots!

Absolutely anyone can be portrayed as an idiot. Sorry, the phone rang and I tried to answer the TV remote.

aileth

Me and hubby were having a discussion about this, this morning and about why people would take one out. I'd genuinely like to hear from people who have taken them out and the reasons why. Is it desperation, as in their outgoings are more than their incomings and they use them to bridge the gap, or is it impatience, i.e. they've spotted an item in a shop that they want desperately but don't want to wait a week before payday to buy it? I'd be genuinely really interested.

Rotor

hollydays wrote: »

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...

But all the choices havenot been taken away. They have the choice to save an 'emergency fund' but have chosen not to.

The ability to put money aside is self evidently there because they are going to have to find it to pay off the loan plus the interest.
If they were truly without any spare money then default would be the only option and most don't default.

The problem is a nihilistic 'live now , beggar the future' attitude and poor spending decisions not poverty per se.

earthstorm

its a vicious circle.

you get a Payday loan to tie you over until next payday, so payday comes , so you pay off the loan, but now your short again as you paid the loan, so you need another loan till next pay day, so it just goes round in circles.

roh999

bobobins wrote: »

Why stop there? What about people who drive cars then complain that they have accidents? Idiots! People who play football, then complain when they get injured? Idiots! People who go to school and complain when they get bullied? Idiots! People who go to work to pay tax for things they don't agree with? Idiots!

Absolutely anyone can be portrayed as an idiot. Sorry, the phone rang and I tried to answer the TV remote.

mmmmm isnt really the same though is it when you think about it.

roh999

hollydays wrote: »

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

"vulnerable" mmmmmmmmm im sorry but im struggling to find where ive "laughed" at the "vulnerable" ...why take out one of these loans after all the publicity knowing the consequences if not paid back was my point......i do like how your post has a kinda 'them and us' attitude..

bobobins

roh999 wrote: »

mmmmm isnt really the same though is it when you think about it.

It is, unless you're suggesting that everyone who racks up massive interest is doing it on purpose.

Rotor

bobobins wrote: »

It is, unless you're suggesting that everyone who racks up massive interest is doing it on purpose.

Well - yes! They havn't accidently taken a loan, or don't know that high rates mean you have to pay back a lot. This info is everywhere these days.
They made a choice

Gra76

Payday loans serve a purpose as long as you can afford to pay it back in full on your next payday and you aren't left short until the payday following that. If you can't manage till the payday after that's when they become a problem.

Unfortunately many people that take out the loans don't look that far down the line, or they count on getting money from other sources in the meantime to help them out.

A payday loan should always be the absolute last port of call for anyone, but with all the slick advertising it's often the first place people think of.

bobobins

Rotor wrote: »

Well - yes! They havn't accidently taken a loan, or don't know that high rates mean you have to pay back a lot. This info is everywhere these days.
They made a choice

So basically, you're an idiot if you take a deliberate action that involves some kind of risk?