stingray-man Posted January 21, 2013 Share Posted January 21, 2013 Why is it? (If the window is owned by a usurer). Usury destroys people. Usurers put people out of work too. A man whose income is diverted to debt repayment via high interest charges, can no longer drink in his local, frequent the shops etc. These pay day lenders are pure scum. What they peddle is worse than crack! http://www.dailymail.co.uk/news/article-2252368/Payday-lender-hounded-suicidal-dad-repayments-recovered-hospital--clawed-cash-times-just-day.html?ito=feeds-newsxml ---------- Post added 20-01-2013 at 23:59 ---------- Yes, but unfortunately usury is legal in this country. And these companies can mug people legally and then legally enforce the debts to be repaid! Nobody has a gun to their head making them get loans and take on debts..... Link to comment Share on other sites More sharing options...
PeteMorris Posted January 21, 2013 Share Posted January 21, 2013 Isn't it a legal requirement for these companies to 'clearly' show their interest rates and exactly how much it's going to cost you? Surely nobody has one of these loans without being fully aware of the consequences? Link to comment Share on other sites More sharing options...
max Posted January 21, 2013 Share Posted January 21, 2013 And how have they go into this predicament?? These payday loan companies (or loan sharks as they should be called) charge ridiculous rates and should be outlawed. But that's another topic. Sorry that the kid's have lost their toys but, if their parents don't have the funds to recover them, then they should go without. It's called Financial Management. My point about children losing their toys was if someone had stolen them in the anti-usury smash and grab then the parents would not be able to redeem them. Link to comment Share on other sites More sharing options...
truman Posted January 21, 2013 Share Posted January 21, 2013 Isn't it a legal requirement for these companies to 'clearly' show their interest rates and exactly how much it's going to cost you? Surely nobody has one of these loans without being fully aware of the consequences? It is and they do...but I suspect people still take the loans out without understanding just how much they'll have to pay back and how much more expensive it can get if they miss payments.. Link to comment Share on other sites More sharing options...
quisquose Posted January 21, 2013 Share Posted January 21, 2013 No, Usury is unethical lending. A shop that sells ruinously expensive loans to customers so that they can afford their goods might be called a userer. Usury was an attempt by the Church to control capital & interest through PR. It failed. What is unethical lending is like the asking length of a piece of string. My borrowing of money to buy my house is unethical to some people, and my employment where we offer goods AND credit is unethical to others. I don't think accepting goods for credit is unethical, but even if I thought it was I will still report the vandals for committing a crime that causes obvious harm and upset. Link to comment Share on other sites More sharing options...
PeteMorris Posted January 21, 2013 Share Posted January 21, 2013 It is and they do...but I suspect people still take the loans out without understanding just how much they'll have to pay back and how much more expensive it can get if they miss payments.. Well...yes...some do take out the loans in ignorance. Or blinkers fitted!!!...Can we blame the shops for that though? If they are complying with legislation and saying up front what the real cost is. Then surely they cannot be held responsible for people defaulting? Don't get me wrong, I'm not defending the horrendous APR they charge. If there wasn't a demand though, they wouldn't be in existence! Link to comment Share on other sites More sharing options...
truman Posted January 21, 2013 Share Posted January 21, 2013 Well...yes...some do take out the loans in ignorance. Or blinkers fitted!!!...Can we blame the shops for that though? If they are complying with legislation and saying up front what the real cost is. Then surely they cannot be held responsible for people defaulting? Don't get me wrong, I'm not defending the horrendous APR they charge. If there wasn't a demand though, they wouldn't be in existence! I'm not blaming the shops...people need to take responsibility for their own actions... Link to comment Share on other sites More sharing options...
vwkittie Posted January 21, 2013 Share Posted January 21, 2013 Well there have been some stupid Chem1st threads over the years but this one rates pretty highly Link to comment Share on other sites More sharing options...
max Posted January 21, 2013 Share Posted January 21, 2013 Well there have been some stupid Chem1st threads over the years but this one rates pretty highly Any thread provoking discussion can hardly be stupid. Link to comment Share on other sites More sharing options...
francypants Posted January 21, 2013 Share Posted January 21, 2013 Surely it's a no brainer. Anybody who witnesses such a crime and doesn't report it is just as bad as the scum committing the crime. Link to comment Share on other sites More sharing options...
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