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Posted: Sun Nov 26, 2006 5:05 pm Subject: payday loans for military?

Guys am I reading correctly? Have they actually passed a law that goes into effect Jan 2007? That says you cannot give payday loans or title loans to military? It was in newspaper. Hope they take the same action on our part. It would be nice to see some lenders help people that are not trying to take advantage of people. KYSIDE38

Posted: Sun Nov 26, 2006 5:11 pm Subject:

Yes, you are reading that correctly.

Posted: Sun Nov 26, 2006 5:34 pm Subject:

This is what I found about the military and payday lending when I did a google search.

Posted: Sun Nov 26, 2006 7:11 pm Subject:

I had heard that the military was really raising a stink about the payday loan industry setting up shop all around the military bases and advertising that they cater to those in the military, etc.

It's great that someone is finally paying attention to the payday loan industry, but we need attention to ALL aspects of this industry, not just the ones that prey on the military personnel. I will say, though, for the PDL industry to be pursuing our military personnel when they risk their lives for us every day, is lower than low.

Posted: Sun Nov 26, 2006 8:36 pm Subject:

I think this is great also, just can't wait for the day when law is passed like this for ALL US citizens

Posted: Mon Nov 27, 2006 6:48 am Subject:

Now - let's RAISE the pay of the military (instead of the morons in Congress) so they can survive.

Posted: Mon Nov 27, 2006 6:49 am Subject: military

Jedi, Good point. If they had enough pay maybe they would not have to get payday loans. They sure never get the pay they deserve. KYSIDE38

Posted: Thu Jan 04, 2007 6:22 am Subject:

i dont know if this law is in effect yet though

Posted: Thu Jan 04, 2007 6:26 am Subject:

Not from that post from sugar:

Posted: Thu Jan 04, 2007 6:48 am Subject:

When do you guys think they will put this law in place for all US citizens?? Laughing

Posted: Thu Jan 04, 2007 8:08 am Subject:

After lobby reform. The common US citizen is screwed mainly because of a lack of voice in Congress. It's big business that decides laws. How else can you explain some of the tax cuts, gun control (or lack of), failure of minimum wage increase, denial of cheap drugs and more. All these are widely supported by the US worker, but they lose out time and time again when votes come up. Why? Well, if you were a Congressman and you received $25 from Mary Doe to get elected and you also received $250,000 from ABC Company, which way would you vote when the bill came up?

Posted: Thu Jan 04, 2007 8:29 am Subject:

You're right Jedi. Although when things start happening at the federal level, states usually start falling into compliance. This will be a big hit on Utah PDLs because of Hill AFB. Also, Utah likes to follow federal law in regard to employment and wages, so I see this as the door opening for things to start changing at the state level. However, a louder voice is needed everywhere and I encourage everyone to get active in their communities. Seek out opponents of PDLs and do what you can to support them. Pass out flyers, write a letter to the newspapers. If you can afford it, take out a small advertisement and talk with your local representatives. It's up to us folks to do what we can to help people out of the PDL nightmare.

Posted: Thu Jan 04, 2007 10:12 pm Subject:

I know I tend to overthink things ...

While this is a great start, there is a downside to it as well. PDLs may be prohibited from doing loans with members of the military, but what about military dependents? There are a lot of husbands and wives who are not with their spouses overseas. Military dependent pay isn't a lot and dependents use PDL's a lot.

Posted: Fri Jan 05, 2007 6:50 am Subject:

This is true--and the only way they can see that they are dependents is by showing their ID. And I'm confused what you mean by dependent pay, unless you're talking about allotments members have established for their families when they are deployed. This is especially true in the Navy, where most sailors do this for their families when they are out to sea.
And hopefully the political environment will be changing, now that the Democrats have the House and Senate again.

Posted: Fri Jan 05, 2007 8:07 am Subject:

I believe we're talking about the same thing. My daughter's married to Air Force and she gets BAH for housing and the FSA (Family Separation). He cut all of he dependent pay off after he filed a divorce on her two years ago (contrary to Air Force policy). The dependent money became an issue and prolonged the divorce for over 2 years. While she was going through this she took out a couple of PDL's that she couldn't pay back. Her attorney eventually helped her to get over $17,000 in reinstated benefits and in benefits owed to her. But ... that's another story.

The point is that the first place she went for money was to the PDLs. It's just too darn easy and tempting to get them.

Posted: Fri Jan 05, 2007 8:08 am Subject:

Just realized I may not have been clear. Cutting the dependent benefits of was against Air Force policy.

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