Happ Hazzard Posted January 30, 2013 Share Posted January 30, 2013 Because a lot of people never pay them back and the debt ends up getting sold on to debt collection agencies for 10% of the value, most likely. Loans firms aren't in business out of the goodness of their heart, they're in business to make money. If the government forces them to lower their rates so much that they can't make money, they simply won't offer the service anymore, and people with bad credit ratings or money management skills will just end up turning to illegal loan sharks. As bad as you think the payday loan firms are, they never broke anyones knee caps for not paying them back on time. Link to comment Share on other sites More sharing options...
woodmally Posted January 30, 2013 Share Posted January 30, 2013 A tip to the op....Don't believe anything you read in the Sun:gag: Ok then so do you believe that its complete bunkum. Surely they cannot make it up completely. Do you think its acceptable that people on benefits should live like this while hard working familys dont. Link to comment Share on other sites More sharing options...
TeaFan Posted January 30, 2013 Share Posted January 30, 2013 Because a lot of people never pay them back and the debt ends up getting sold on to debt collection agencies for 10% of the value, most likely. Loans firms aren't in business out of the goodness of their heart, they're in business to make money. If the government forces them to lower their rates so much that they can't make money, they simply won't offer the service anymore, and people with bad credit ratings or money management skills will just end up turning to illegal loan sharks. As bad as you think the payday loan firms are, they never broke anyones knee caps for not paying them back on time. Or credit unions. The problem is, it isn't totally about choice because the loan firms can afford to advertise on telly, the radio and in papers and magazines. Credit Unions can't afford it because they're not-for-profit. This is why people should publicise Credit Unions at every opportunity, and see if their employer will allow them to pay into a Credit Union directly from their pay (not just for people who need their services, but for people who want to expand the pot of money the Credit Union can loan out). Sheffield Credit Union's website is here if anyone is interested http://sheffieldcreditunion.com/ Link to comment Share on other sites More sharing options...
NorthernStar Posted January 30, 2013 Share Posted January 30, 2013 Ok then so do you believe that its complete bunkum. Surely they cannot make it up completely. Do you think its acceptable that people on benefits should live like this while hard working familys dont. Reading between the lines it looks like the victims were probably being asked about the barriers to work and then taken completely out of context by the newspaper. A thoroughly disgusting newspaper, only someone thick enough to pay for it would take anything written in it at face value. The same storey could just as easily have been angled to demonise the insurance companies that cause childcare to be so expensive, the cost of housing given that their landlord ends up with a sizeable chunk of the couples income, the government who continue to allow this to happen etc. etc. A horrid excuse for a newspaper for no other reason than to justify hate and bigotry that lies within sad and angry people IMO. Link to comment Share on other sites More sharing options...
ANGELFIRE1 Posted January 31, 2013 Share Posted January 31, 2013 Wait while April and the councill tax ends and the new system starts in it's place. Every one will have to pay something, even if on the dole. I can hear the gnashing of teeth now and it's only January. According to the wireless tonight on 5 live, some will have to pay an EXTRA £600 per year. Angel. Link to comment Share on other sites More sharing options...
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