This term was invented by people with a bad credit score and bad finances in general that wanted to tell the world how some bad people distroyed their lifes. I know that lenders aren’t the most loved people of the world, but lets face it, they do not come in our home and force us to loan money from them, we are the ones that go at them to get some money. If you would know a little bit of economy you should know that if you have a desired product that people can not get from other places you can sell it to a higher price. The thing that people do not know is to ask for the interests to know how much they will be paying after, people only ask for the rates, example: loaner: how much will I have to pay monthly for every 100$ I loan? lender: between 20-40$, depending on the time. Loaner: i would like to pay 20$! lender: OK!. The loaner should of asked the time while it pays 20$/ month, because if you loan 100$ and you pay 20$/month I can assure you that you will pay almost an year this rates.
So… we are the payday loans “sharks” that feed from money of other people, other people that camed to us and asked for a product and we gaved them. I know that our policy is not the best, that we loan everybody, but as long as people will apply for payday loans there is no chance that payday loans and bad credit loans agencyes will disspear, in fact they are getting bigger and bigger.
Is it our fault that you dont know how to use your money?