Payday Loans stories please!, Payday Loans stories please! Beállítások

[bining]

Hiya guys,

I'm writing an article for an online magazine called Planet Ivy about students taking out short term/pay day loans. I had one myself whilst at uni (just graduated in July), and I definitely wouldn't recommend it, but I'm looking for some general stories about/thoughts on them, if anyone's willing to share.

Thank you

[xiphoidannoyed]

They basically want people to pay back the money but accept that they will have to write off 15% of what they lend. There is no incentive for them for people to fall behind on payments - it ruins their margin rather than improving it. Think about it would you be happy to let someone who owed you money and hadn't paid you back keep it on the basis that you could tell them they owe you more money or would you rather get it back and lend it at the same interest rate to someone likely to actually pay you back.