Payday loan firms ‘try to stall reform’

[AAD News Feed]

Payday loan firms ‘try to stall reform’

This is a duplicate of the Blog Entry made on 10th March 2013 12:56.

*....as Government aims for industry overhaul* Payday lenders are delaying the Government’s efforts to overhaul the industry by failing to...

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[ken100464]

Re: Payday loan firms ‘try to stall reform’

Doesnt really surprise you does it.

They operate on the edges of legality so why and earth would they want to flag up what they do.

Dont report it dont check it. Why? Oh so they can shaft the most vunerable with excesses which make even a banker look angelic.

Now that was difficult. Banker and angelic in one sentence. OMG did it twice need to lie down.

[pompeyfaith]

Re: Payday loan firms ‘try to stall reform’

Blimey think you need a few of these now ken

[ken100464]

Re: Payday loan firms ‘try to stall reform’

Cheers mate

Need quite a few of those to forget that post. Seared on my mind forever now.

[pompeyfaith]

Re: Payday loan firms ‘try to stall reform’

Yah no what you mean we are being royally screwed

[ken100464]

Re: Payday loan firms ‘try to stall reform’

Yep

We were seduced by loans and credit cards.

The banks made too many cock ups so built a system to tilt it more in their favour. However you put it CRA's are there to cut risk for them. And penalise us for being naughty however small it was.

Now this credit is rationed to the banks whim this PDL industry springs up. encouraged by vested interests.

If allowed to carry on webistes like this will be full of PDL horrors and not much else.

To many on here the idea of a PDL would seem insane. But we all managed to get in a mess somehow.

The young see it as a means to obtain the latest phone or get the insurance for the car. The vunerable see it as a way to get a meal.

But simple maths dont teach them that the latest iphone retailing at x has just cost them x with gazillions to the PDL company. All because they couldnt wait.

The meal cost them as much as fine dining at daffy ducks or wherever that top chef works not he fiver they think it did. They got the soup the PDL company got the main the sweet the coffee and lashings of wine.

Basic budgeting and the damage interest does to someones wellbeing should be mandatory in all schools. And it should be directly paid for out of the banksters bonuses. As an education tax. All children get this for free.

They should put something back into society not take all the time.

[evilcartman]

Re: Payday loan firms ‘try to stall reform’

Basic budgeting and the damage interest does to someones wellbeing should be mandatory in all schools. And it should be directly paid for out of the banksters bonuses. As an education tax. All children get this for free.

But this can't be possible, Ken. The kids are getting smarter every year, look at the GCSE and A-level results.

Being serious, though, we obviously do have a problem in that the teaching of critical thinking skills has been lost in the drive to meet targets to make the schools and politicians look good.

At the same time, however, we need to be careful to avoid victim-blaming. Like you say, we all managed to get in a mess somehow. And in many cases, we were only put in a mess when we lost our jobs (or were put on reduced hours) thanks to a banking crisis that we didn't make. Then the people who did cause the mess were bailed out at our expense and now they're trying to make poor and vulnerable people pay again for debts that have already been written off by the long-suffering taxpayer.