I feel bad for the people out of work. But I feel great because it will put a stop to people stuck in this trap of the company’s overcharging people.
I feel bad for the people out of work. But I feel great because it will put a stop to people stuck in this trap of the company’s overcharging people.
I don’t live in Ohio, but I feel that when you go into this loans it is like being on a wheel, you are peddling and peddling but you are not really going anywhere. There are only two ways to get of this wheel, get a better job (wich is close to impossible this days.) Or Don’t pay the loan and have your credit go bad.
People this days are more intelligently using there money. Sometimes we go over the wall with everything that we want to buy, that we loose focus on what we need.
I think it is a good idea to do away with this loans.Less debt for people… we just have to go on what we have.
Payday loans are still legal, just within reasonable limits. I am still not convinced that lots of folks will lose their jobs. To me, it just seems like the people that own the businesses will make less profit, but likely enough for them to stay in business. I guess we’ll see in the near future.
I’m split on this one. The rates those companies charge are outrageous however they aren’t hidden charges and they are very upfront concerning % of interest. Nobody forced people to take these loans out and most of the people getting loans from this source did so because they were unable to gather the needed funds elsewhere.
So for those that used them because they have no other source and were happy with them, what are they supposed to do now?
Other lawmakers are trying to push through credit card rate limits to keep them down. For people that like this sort of government control, remember the credit card company always has the option of CLOSING the account if the rate they are allowed to charge doesn’t justify the risk of the person with the account.
People that support this sort of garbage neglect to realize the lender is free to refuse credit to whoever they want, leaving those people out of luck altogether. I think it’s assumed that those people will benefit with a lower rate, and that’s just wrong.