Comments on: predatory lending & political contributions http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/ Harrisonburg's Community News Network Tue, 16 Mar 2010 02:10:40 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: hburgnews » payday lending meeting on the 3rd http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/comment-page-1/#comment-835 hburgnews » payday lending meeting on the 3rd Sat, 27 Jan 2007 09:25:11 +0000 http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/#comment-835 [...] I’ve written about payday lending here before. [...] [...] I’ve written about payday lending here before. [...]

]]> By: hburgnews » Blog Archive » financial “wreckage” http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/comment-page-1/#comment-533 hburgnews » Blog Archive » financial “wreckage” Mon, 11 Dec 2006 16:33:45 +0000 http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/#comment-533 [...] Some of you might wonder why I (and other VA bloggers) have been harping on this payday loan issue. I posted entries about it in November and this month already. [...] [...] Some of you might wonder why I (and other VA bloggers) have been harping on this payday loan issue. I posted entries about it in November and this month already. [...]

]]> By: hburgnews » Blog Archive » HB619 shot down http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/comment-page-1/#comment-486 hburgnews » Blog Archive » HB619 shot down Wed, 06 Dec 2006 14:10:34 +0000 http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/#comment-486 [...] A few weeks ago, I posted about House Bill 619, which would have put the 36 percent interest cap back on payday loans. [...] [...] A few weeks ago, I posted about House Bill 619, which would have put the 36 percent interest cap back on payday loans. [...]

]]> By: finnegan http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/comment-page-1/#comment-416 finnegan Thu, 16 Nov 2006 21:34:08 +0000 http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/#comment-416 By law, they have to display this info (interest rates, how much at will cost, and that this is only for short-term needs) framed and in plain sight. I think these borrowers know, but are just too short-sighted to realize what they're doing to their finances in the long run. The stats show that most borrowers get several of these loans a year. Like so many other things (infidelity, drugs, etc) people make bad decisions that end up hurting themselves and their families. But to me, the big difference between this and other bad decisions is the lobby money behind keeping the interest rates up. Politicians are essentially being paid off to keep the interest caps off. By law, they have to display this info (interest rates, how much at will cost, and that this is only for short-term needs) framed and in plain sight. I think these borrowers know, but are just too short-sighted to realize what they’re doing to their finances in the long run. The stats show that most borrowers get several of these loans a year.

Like so many other things (infidelity, drugs, etc) people make bad decisions that end up hurting themselves and their families. But to me, the big difference between this and other bad decisions is the lobby money behind keeping the interest rates up. Politicians are essentially being paid off to keep the interest caps off.

]]> By: Barnabas http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/comment-page-1/#comment-415 Barnabas Thu, 16 Nov 2006 21:15:43 +0000 http://hburgnews.com/2006/11/16/predatory-lending-campaign-contributions/#comment-415 If more people understood their options when comes to financing and debt consolidation these places wouldn't be in business. A majority of their business comes from them being able to preasure the less informed into making a descision because they either need of feel that they need money immediatly. I'd like to see some the debt consolidation services become more agresive at getting people informed. If more people understood their options when comes to financing and debt consolidation these places wouldn’t be in business. A majority of their business comes from them being able to preasure the less informed into making a descision because they either need of feel that they need money immediatly. I’d like to see some the debt consolidation services become more agresive at getting people informed.

]]>