4 ms·

That's a fair point. The next question is "What do better options look like, and how do we get there?" High interest-rate loans are one thing. Forcing paymen

That's a fair point. The next question is "What do better options look like, and how do we get there?" High interest-rate loans are one thing. Forcing payment for the company's lawyer is another. Broad-spectrum mailing of loan offers with (what looks like) no assessment of ability to pay is quite another still.[1] --- [1] Or even worse, selecting for people who they know can't pay immediately, so they can rack up the margins/fees. That would be one of the typical definitions of "predatory."

Kalium 8y ago
It's worth remembering that people who can't pay immediately are almost by definition those most in need of credit. If you protect them by taking away their access to credit, the likely consequence is either them seeking out illegal credit or failing to gain credit at all. There aren't obvious better options, once you strip the business down to its core of high-risk credit. It's a business that no matter how efficient is going to come with high interest rates. The obviously predatory marketing practices need to be stopped. But the core of the business here is never going to be a nice one. :/