Pay day loans

Stevie_Palimo

StopIt wrote: »

I'm sorry, but I'm not accepting any defence of the PDL industry as being "responsible lending". It is predatory lending at best, and in nearly every usage case there is a better alternative.


They prey on the ignorant, or desperate and people should be educated to avoid them and help themselves with financial management. So no, your responsibility argument makes no sense to me as I am arguing that these people should be avoided, rather than encouraged. Anyone who encourages them should bare their own responsibility for facilitating people continuing potential debt crises rather than addressing them.

There is no preying on anyone for the site I run and many others I know in the industry are the same and the rules have changed for a lot of people now whereby interest is set at a fixed level and also people cannot roll a loan over, Partner this with the checks in place now on affordability means that people are not offered these as they were many years ago.

And you can argue about being avoided all you like but the reason that payday lenders will and have traded up until now is the fact that some people either have no access to other credit in a emergency or do not want to ask family or friends, Most of the customers on my site are working class people in decent paying jobs who are stuck for a few hundred pound for a week or two at the most, I know that we do the right thing by customers and they use us again.

For the most part people who scream blue murder about costs and charges who got into trouble with payday loans in the past are the irresponsible ones who need to learn to plan financially and stop blaming others for the problems they create, In some instances this can be through no fault of there own but the vast majority is stupidity and spending money that they did not need but did spend because they could.

StopIt

Stevie_Palimo wrote: »

There is no preying on anyone for the site I run and many others I know in the industry are the same and the rules have changed for a lot of people now whereby interest is set at a fixed level and also people cannot roll a loan over, Partner this with the checks in place now on affordability means that people are not offered these as they were many years ago.

And you can argue about being avoided all you like but the reason that payday lenders will and have traded up until now is the fact that some people either have no access to other credit in a emergency or do not want to ask family or friends, Most of the customers on my site are working class people in decent paying jobs who are stuck for a few hundred pound for a week or two at the most, I know that we do the right thing by customers and they use us again.

For the most part people who scream blue murder about costs and charges who got into trouble with payday loans in the past are the irresponsible ones who need to learn to plan financially and stop blaming others for the problems they create, In some instances this can be through no fault of there own but the vast majority is stupidity and spending money that they did not need but did spend because they could.

You'd be a good politician, because you sell a lie like a good one. Remember the industry only signed up to higher standards because otherwise it would've faced a far harsher crackdown and still might. It certainly wasn't because of any corporate morality magically appearing on the side of the PDL industry.


BIB shows your lies for what they are. If your customers were stuck for pay for a week or two at the most, why do they come back? Because they're stuck again? Yes, and each time they come to you, they lose more money and become more stuck the next time. If you think that your customers are not then going to other PDL instead of rolling over loans as they're aren't allowed, I have a bridge to sell you.


Using the whole "our customers are fine, upstanding folk and we wouldn't dream of exploiting them" is the age old lie of PDL companies and nobody should believe you now.


You, and your industry perpetuate debt spirals and frankly, you can defend yourself all you like but the facts are clear. I'd take the opinions of debt charities who have to deal with the damage you predators do over someone in an exploitative industry any day of the week.


You can shift responsibility all you like, and yes, people borrow irresponsibly all the time. If however there were 1,000 charity workers employed instead of 1,000 PDL workers to turn to, the cycles could be broken far easier.

Stevie_Palimo

StopIt wrote: »

You'd be a good politician, because you sell a lie like a good one. Remember the industry only signed up to higher standards because otherwise it would've faced a far harsher crackdown and still might. It certainly wasn't because of any corporate morality magically appearing on the side of the PDL industry.


Agree on one thing you have wrote and I have never defended the way it was prior to rule changes, You do need to realise it is regulated very heavy now and procedures in place to prevent people abusing the system.

BIB shows your lies for what they are. If your customers were stuck for pay for a week or two at the most, why do they come back? Because they're stuck again? Yes, and each time they come to you, they lose more money and become more stuck the next time. If you think that your customers are not then going to other PDL instead of rolling over loans as they're aren't allowed, I have a bridge to sell you.

How very mature of you to sling childish comments into the mix to argue your point, You have no clue as to who borrows from the site I run so cannot possibly make a poor judgment as per above.

Using the whole "our customers are fine, upstanding folk and we wouldn't dream of exploiting them" is the age old lie of PDL companies and nobody should believe you now.

Again responsibility is a shared burden you know but it is very obvious that explaining anything to you is going straight over your head and a waste of time.

You, and your industry perpetuate debt spirals and frankly, you can defend yourself all you like but the facts are clear. I'd take the opinions of debt charities who have to deal with the damage you predators do over someone in an exploitative industry any day of the week.

Again can you not be responsible for you own spending habits, Nope thought not well you cannot pass the buck all your life and need to realise that you have to deal with financial aspects in a grown up way and stop playing the blame game,

You can shift responsibility all you like, and yes, people borrow irresponsibly all the time. If however there were 1,000 charity workers employed instead of 1,000 PDL workers to turn to, the cycles could be broken far easier.

Now there is a silly thought if ever you had one.


I will obviously not entertain the idea of discussing this any further with you as it is quite clear to me that you are beyond a civil or adult conversation so I am out.

StopIt

Stevie_Palimo wrote: »

Now there is a silly thought if ever you had one.


I will obviously not entertain the idea of discussing this any further with you as it is quite clear to me that you are beyond a civil or adult conversation so I am out.

I love how your reply is essentially calling ME financially irresponsible because I am calling you a predator in a disgusting industry.


I have never taken out a PDL, never will, am debt free and know how to run my financial affairs, thank you very much. I take responsibility for my financial affairs, and the very fact that you peddle towards those who may not makes you complicit in the debt cycles created.


Responsibility works both ways and the PDL industry has tried to wash it's hands far too often of theirs.


I love your sig by the way. Unable to take it, but glad to give it out eh? Typical.