We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Plus sides to living in an economy on the downturn
Comments
-
shortchanged wrote: »Some peoples misery has always been someone elses joy.
The huge rise of things such as pay day lenders is testament to that.
Isn't it cheaper to use a payday lender than pay the unauthorised overdraft fees?
My opinion is that those guys get a bit of a bad press. They meet a need in the market that used to be met by people that would break your kneecaps if you didn't repay them.
They're making high risk loans so the fees will be expensive.0 -
Isn't it cheaper to use a payday lender than pay the unauthorised overdraft fees?
My opinion is that those guys get a bit of a bad press. They meet a need in the market that used to be met by people that would break your kneecaps if you didn't repay them.
They're making high risk loans so the fees will be expensive.
The problem is though Gen is that they are aimed at the section of the market that can't really afford them. They are basically legal loan sharks.
Let's face it, the majority of the people who use payday lenders are already in some sort of financial sh*t and these businesses don't really help the situation.
It's the usual vicious circle where it's actually the poor that get clobbered in the poverty trap. Overdraught charges are another example as they just cause the person to continually stay in debt. There has to be a better solution really.0 -
shortchanged wrote: »The problem is though Gen is that they are aimed at the section of the market that can't really afford them. They are basically legal loan sharks.
Let's face it, the majority of the people who use payday lenders are already in some sort of financial sh*t and these businesses don't really help the situation.
It's the usual vicious circle where it's actually the poor that get clobbered in the poverty trap. Overdraught charges are another example as they just cause the person to continually stay in debt. There has to be a better solution really.
TBH, I think the pay day loan might be the best so far.
The alternatives are basically theft, the pawn shop and the loan shark. Pay day loans are unarguably better than those three.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards