Open letter to Gubner Kulongowski
RE: Pay Day Lenders
Please know the existence of Pay Day Lenders in Oregon indicates a problem exists with a specific class of people who are often finding themselves unable to meet their financial responsibilities.
Its a product of a Bad economy, stupid!
It is their decision to borrow from these lenders and that usually with discovering the Loan premium is less than the loss suffered if they were to not fulfill those responsibilities.
Loan fees will cost the borrower money. Late fees can cost them the ability to borrow money.
But then, perhaps more people with bad credit helps government build a case for more social support programs and thus grow the bureaucracy
Please know the existence of Pay Day Lenders in Oregon indicates a problem exists with a specific class of people who are often finding themselves unable to meet their financial responsibilities.
Its a product of a Bad economy, stupid!
It is their decision to borrow from these lenders and that usually with discovering the Loan premium is less than the loss suffered if they were to not fulfill those responsibilities.
Loan fees will cost the borrower money. Late fees can cost them the ability to borrow money.
But then, perhaps more people with bad credit helps government build a case for more social support programs and thus grow the bureaucracy
posted by Localfella at 1:00 PM
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