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Debt is the same no matter where you go. You borrow, you pay, and if you don’t like the terms, borrow from somewhere else. You can’t eat your cake and have it t
by Simulacra 7y ago
Debt is the same no matter where you go. You borrow, you pay, and if you don’t like the terms, borrow from somewhere else. You can’t eat your cake and have it too.
- dumbfoundded 7y agoThese are unregulated payday loans. They only exacerbate a troubling situation. It turns desperation into debt. Debt only really seems to work as an investment or to solve liquidity issues. The problem sounds like these debtors never had investments they were looking to finance or wanted liquidity for capital assets. They are just poor people who struggle to get by. You may criticize someone for going to debt in such short term thinking but it's hard not to empathize. If you were about to be homeless or go a day without a meal, would you take a loan?