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I did some contract work for an online “payday loan” company for a bit. It didn’t take me long to realize I was ashamed of working with such a terrible industry

by dav 8y ago

I did some contract work for an online “payday loan” company for a bit. It didn’t take me long to realize I was ashamed of working with such a terrible industry, but my professionalism kept me there until I finished the job. Definitely a low point.

RaceWon 8y ago
Having spent most of my spare time for the past 8 months on a FinTech idea (which I now question the cost of launching) I spent the day yesterday looking into PayDay loans as one of the URL's I got for said biz is pretty damn catchy for a PDL endeavor. Case in point--GoDaddy has all kinds of loan ads on the parked page. I agree with you though, that's a sleazy way to make money, IMO.
albertgoeswoof 8y ago
Payday loans are bad but they are not that unethical. The alternative option for people reliant on payday loans are actual loan sharks, which will turn out a lot worse for the debtor. So don’t be so hard on yourself. I think it would be difficult, but possible to run an ethical payday loan company that focuses on building people up and out of long term debt.
- diminoten 8y ago
  I love the Freakanomics podcast that gives both sides to the Payday Loan industry: http://freakonomics.com/podcast/payday-loans/ http://freakonomics.com/podcast/payday-loans/
  - dav 8y ago
    I'm going to give that a listen this afternoon, thanks!
  - deleted 8y ago
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- deleted 8y ago
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northwest65 8y ago
>Definitely a low point. I totally understand. It just made me feel dirty. I quit as soon as I was able.