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 Posted: Wed Sep 19, 2007 1:10 pm Subject: Interesting news article about Checkngo |
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Here is an article I just ran across. Thought some of you might be interested...
Sorry for the long copy and paste post but I couln't figure out how to insert a link. I kept getting an error...Anyway, here it is...
| Quote: | Payday Loans ABC - News Center
September 14, 2007
Check ‘n Go Employees Reveal Dirty Secrets (1 of 2)
Several former workers of the Check ‘n Go payday loan chain have blown the whistle on their ex-employer. In Ohio, where the debate over the relative merits of cash advance personal loans is fierce and proposed legislation to cap annualized interest rates on fast cash loans is rapidly gaining momentum, such a defection is some seriously newsworthy stuff. Check ‘n Go provides cash advance loans to consumers at over fifteen hundred storefront locations across the nation, as well as faxless payday loans at its internet web site, and is based in the Ohioan city of Mason. Several men who worked at Cincinnati-area Check ‘n Go personal loan outlets are now blowing the whistle on the fast cash loan company, claiming that they were specifically instructed to target minority and lower-income individuals in soliciting loans.
The workers formed a coalition to show support for legislation regulating and limiting payday loans. Among them was Mike Donavan, the past district director of operations for Check ‘n Go cash advance outlets in Washington, D.C., northern Virginia and Delaware. Donavan reported how he was told by his higher-ups to really push fast cash loans on poor, black consumers. This sentiment was confirmed by William Harrod, another former manager from the D.C. area. Others issued statements affirming that Check ‘n Go purposefully made it difficult for consumers to get out of their short-term, high-interest personal loan obligations, through repeated rollovers and encouragement to borrow more than they could reasonably afford.
But concerted efforts to disenfranchise working poor individuals and families through aggressively solicited payday loans were just at the surface of Check ‘n Go’s treachery, the employees attested. Donavan alleges that he has been drilled by his cash advance supervisors and Check ‘n Go corporate officials to make monetary donations to the election coffers of company exec John Rabenold, who is pitching a Republican campaign for the 35th District seat in the Ohio House of Representatives. Donovan says that the fast cash loan managers were assured that all contributions were strictly voluntary, but the understanding was that any resistance could impact their jobs.
Payday Loans ABC - News Center
September 14, 2007
Check ‘n Go Employees Reveal Dirty Secrets (2 of 2)
The news of the Check ‘n Go employees’ defection must have seemed god-sent to the many opponents of deferred deposit personal loans in Ohio. Donovan, Harrod, and the others have thrown their support behind those organizations that are pushing for strict limits on payday loans in the Buckeye State, up to and including an annualized interest rate cap that could potentially close the doors of every fast cash loan store within state boundaries.
Representatives from the Coalition on Homelessness and Housing in Ohio praised the former payday loan store employees for their bold action in speaking out against the prejudiced and discriminatory practices of cash advance lenders like Check ‘n Go. Also on the side of fast cash loan opposition is the Ohio Coalition on Responsible Lending, which met with state Rep. William Batchelder, R-Medina, to review details of a bill Batchelder plans to propose during the next General Assembly to cap interest on these personal loans.
Check ‘n Go, of course, vehemently denies the claims of the former faxless payday loan store employees. When pressed for a response to the dramatic testimony, a representative of the fast cash loan chain decried the stories as “false and reckless.†The statement defended the business practices of the cash advance personal loan lender, insisting that Check ‘n Go “adheres to all local regulations and industry best practices that provide for a variety of consumer safeguards."
John Rabenold, the House candidate, also fervently rejected the statements of the fast cash loan store employees. Rabenold insists that no one at all, much less anyone at the Check ‘n Go payday loan stores, was pressured into giving him money. The exec points to the fact that all campaign contributions must be made public, and that only twenty-one Check ‘n Go cash advance personal loan employees made campaign donations. Everyone who helped him out, said Rabenold, understands his values and shares his conservative beliefs about what is best for the welfare of his would-be constituents in Ohio. |
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eleroo
Joined: 06 Jun 2007
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| Posted: Wed Sep 19, 2007 3:35 pm Subject: |
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I hope more and more people like that come out against these PDL scumbags!!
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got2pay2play
Joined: 30 May 2007
Posts: 61
Debtcc Points: 1943
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| Posted: Wed Sep 19, 2007 4:47 pm Subject: |
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Me too!
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eleroo
Joined: 06 Jun 2007
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| Posted: Wed Sep 19, 2007 6:37 pm Subject: |
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I have worked for a big internet-provider here in New York, I was a tech support rep and guys you have no idea what hell I was working in. Customers have no idea what these companies do. They were lowering people's internet speed because they were downloading too much (it was called throttling). Customers were not aware that they were paying for a fraction of the speed they should have receive. Some were calling asking why is the internet so slow. And I had to tell them that yes, you are paying but we have cut your speed because you were downloading too much. Sorrry!
And it is not just here. I used to work in two pretty expensive restaurants in the city about 4 years ago. I will never forget the one that I quit 3 hours after I started working there. It was an expensive restaurant in Astoria, NY. 100 maybe even more seats. The refrigerators where the meat was hanging on hooks were very high above the floow level. And some people were very, very lazy to get on the chair or on the ladder to reach the meat. They were throwing their shoes at the meat, it would fell on the floor, the would pick it up and throw it into the frying pan...
So thats how it is    
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stefan
Joined: 16 Sep 2007
Posts: 201
Debtcc Points: 2569
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| Posted: Wed Sep 19, 2007 6:43 pm Subject: debt |
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How horrible!! Yep...it does seem PDL's target on low income, etc. KNOWING if you have bad credit, it's very difficult to get a loan. Recently a cash-advanced place was build in the town, where I live. I live in a very small town..'everyone knows everyone.'. I see SOO many people in that place . I have to drive past it, to go to work. It's just amazing!! In my area, it's 'mid-income/low-income.'
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sdchargers_63
Joined: 08 Aug 2007
Posts: 1283
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| Posted: Wed Sep 19, 2007 7:57 pm Subject: |
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set it on fire 
I understand your pain. Its like the ca$inos when they were first built and gambling laws were not invented
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stefan
Joined: 16 Sep 2007
Posts: 201
Debtcc Points: 2569
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| Posted: Thu Sep 20, 2007 1:41 am Subject: debt |
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I can't set it on fire..I would go to jail!!LOL Having my personal experience with PDL's ( like just about all of ya..) it's sad to see these people fall into a trap..ya know??
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sdchargers_63
Joined: 08 Aug 2007
Posts: 1283
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| Posted: Thu Sep 20, 2007 12:07 pm Subject: Maybe cash loans are for people that really need them? |
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I hear a lot of critisism here from people that's never needed a payday loan. We received one from cashloancity.com a couple months ago and it wasn't a bad experience at all. I made the choice not to take another loan out later for my credit card and now it's higher than any cash loan would have been. Let's not talk about credit card charges though right, because credit cards and lottery for poor people is just fine.
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Roy
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| Posted: Thu Sep 20, 2007 12:11 pm Subject: |
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You are free to start a topic about anything you want. There are several different forums here. You happen to be in one that specializes in payday loans. There are credit forums, insurance forums, mortgage forums, etc. It is all discussed. You are just not looking around you . . . .
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How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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| Posted: Thu Sep 20, 2007 3:01 pm Subject: |
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Roy, you hava a good point. Payday loans are for those who can pay them back the next week. Thats should work out fine for those who can do that. Those who cannot should stay far far away from them becuase it can be a trap that you may never recover from unless you come here for help.
luke
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Lukeskywalker
Joined: 19 May 2007
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| Posted: Fri Sep 21, 2007 5:07 am Subject: |
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Aren't you paying high interest even if you pay in full?
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stefan
Joined: 16 Sep 2007
Posts: 201
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| Posted: Fri Sep 21, 2007 6:27 am Subject: |
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Hi everyone! I'm just catching up on the thread. Had a training at work yesterday so I worked for about 13 hours straight!! (I'm off today though.  )
Sorry Goudah...I didn't realize someone beat me to the story...but, I will be looking for some other good ones to post. The site I got it from looked pretty interesting but I haven't had a chance to check it out in full yet.
Stefan, your restaurant and tech company stories are horrible! What a terrible experience for you. It's ashame what people will do to make money. Also, to imagine that what is considered to be an upscale restaurant would serve food that has fallen on the floor and that has been knocked down with shoes is...well...pretty gross! I'm glad you quit! At least you have integrity!
Sdchargers...don't set the pdl company on fire...just keep driving by in different cars and throwing bricks at it.
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eleroo
Joined: 06 Jun 2007
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| Posted: Fri Sep 21, 2007 6:53 am Subject: |
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Eleroo - I've been going to that site for a few months now, and usually post anything I find that is interesting here . . . .
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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| Posted: Fri Sep 21, 2007 6:58 am Subject: |
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It's very interesting, isn't it? I just stumbled across it the other day. I'll definitely be looking at it often. I'm just hoping that one day I'll see "Pay Day Loan Companies Outlawed" in the headlines!
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eleroo
Joined: 06 Jun 2007
Posts: 1227
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| Posted: Fri Sep 21, 2007 6:59 am Subject: |
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It's actually a pro pdl site too!
Update - Check n Go is now suing that employee mention in the article.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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| Posted: Fri Sep 21, 2007 7:01 am Subject: |
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eleroo this is why I never evr want to work in restaurants again Yes, life is tuff. People will drown you to get what they want.
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stefan
Joined: 16 Sep 2007
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