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Payday loans 60 minutes & Dateline NBC

Date: Wed, 08/30/2006 - 18:47

Submitted by awknox2003
on Wed, 08/30/2006 - 18:47

Posts: 45 Credits: [Donate]

Total Replies: 15


Does anyone know if 60 minutes or Dateline NBC has ever done on story on Payday loans ? If not I think it would be a good story that would help many individuals that deal with Payday loans. Thanks


The only item I've seen was last week on NBC Nightly
NEWS. It did not deal with Payday loans,but collection
practices of debt collectors.

On my local station there was a consumer piece on title loans,which are totally illegal here! Other than that I have not seen anything.

Unfortunately, I do not believe there is enough interest except on the local level.


lrhall41

Submitted by Roadwarrior on Wed, 08/30/2006 - 19:03

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Hey Everybody, Local news and newspapers here are running all kinds of ads against payday loans. The attorney general is running them alot in newspaper. 2 more internet companies went down today. YAH!!!! I am praying that laws take effect in all states to stop these people. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Thu, 08/31/2006 - 16:47

( Posts: 2477 | Credits: )


The real story on payday loans should be how they were even legitimized in the first place. It is a total loop hole around the maximum interest fee allowed for a loan. I understand the desperation of people who get themselves in a situation where they are desperate for money, but that is the worst thing you could ever do to yourself is a PDL.

Fred

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Link deleted as per forum rules - Mike


lrhall41

Submitted by fred on Thu, 08/31/2006 - 19:09

( Posts: 6 | Credits: )


Quote:

The real story on payday loans should be how they were even legitimized in the first place. It is a total loop hole around the maximum interest fee allowed for a loan. I understand the desperation of people who get themselves in a situation where they are desperate for money, but that is the worst thing you could ever do to yourself is a PDL.


AMEN!


lrhall41

Submitted by polly on Thu, 08/31/2006 - 21:51

( Posts: 1709 | Credits: )


Payday loans in Oregon will soon strictly regulated. (and we had some of the loosest laws in the country) Effective July 1, 2007 payday loans must have a 31 day payback period. No more than 10% interest and/or $10 per $100 borrowed. I don't see how they can stay in business too long. Now if the internet business could just be regulated we might be able to get rid of these.


lrhall41

Submitted by on Mon, 09/04/2006 - 18:41

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I am so glad I stayed away from the pdl's. We have one pdl store in town and it was started in a pawn shop we have(go figure). I can just see how they figured that would help buisness. Instead of pawning your life away just throw it away completely :). I have many small loans from company's such as world finance corp. and toledo along with about 3 more so yeah paying those are hard enough. On the plus side with those you don't get sent to a collection agency if you are a little late, little being even up to a month. Most of the people that run the local places work with you and keep the big guys off your back. Not saying that running to get a loan from one of these companies is any better it also puts you in major debt. It's just once you get there it's not as hard to deal with them since you only deal with the personell in town. As I stated I am looking to pay all 4 loans off by the end of Feb. 2007.


lrhall41

Submitted by billyandstarlasmom on Tue, 09/05/2006 - 08:46

( Posts: 20 | Credits: )


more info:
There are 4 versions of Bill Number H.R.458 for the 109th Congress
1 . Military Personnel Financial Services Protection Act (Introduced in House)[H.R.458.IH]
2 . Military Personnel Financial Services Protection Act (Reported in House)[H.R.458.RH]
3 . Military Personnel Financial Services Protection Act (Engrossed as Agreed to or Passed by House)[H.R.458.EH]
4 . Military Personnel Financial Services Protection Act (Referred to Senate Committee after being Received from House)[H.R.458.RFS]

nd this from the US Air Force:

www.af.mil/news/story.asp?id=123026355


lrhall41

Submitted by jj on Wed, 09/06/2006 - 09:00

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