- The new rules would likely affect consumers like Trudy Robideaux, who borrowed money from a payday lender in California to help cover an $800 car repair. When she couldn't repay the money right away, the lender offered to renew the loan for a fee.
"Ka-ching," Robideaux said. "You're hooked. You can feel the hook right in your mouth. And you don't know it at the time, but it gets deeper and deeper."
Before long, Robideaux was shuttling to other payday lenders, eventually shelling out thousands of dollars in fees.
"I was having to get one to pay another," she said. "It's a real nightmare."
Regulation needed, or buyer beware? wasoxygen -what do you think?
Did you get the sense that the company knew that what they were doing was evil and in fact predatory? Or were they able to somehow fool themselves into thinking that what they were doing was beneficial and helpful? How about you? Was there some cognitive dissonance for you? If so, how did you justify it? The truth is many jobs and occupations come with some ethical liabilities. In order to make money from people, we often have to exploit a need. Sir, don't you think your father deserves the deluxe coffin with the silk-lined interioir? Shall I add that to the invoice?
Oh yeah, I forgot about all that stuff, I've never been a redditor. Hopefully you are beyond all that drama, I can't imagine that was pleasant. Good luck with the new role, it sounds like fulfilling work. I've done a bit of consulting with a large health insurance provider. Holy shit is that industry under a ton of weight from the influx of new "customers." Is your work tied to the ACA? Begin tangent: I feel like taxes are the opposite of predatory lending. It's really predatory borrowing. I give and give and get very little back proportionately speaking. Still, I'm glad that that we have some form of healthcare for poor. humanodon, how did your ACA enrollment end up? Did you get enrolled? Have you attempted to use the benefits?
I got enrolled, but then I moved to Massachusetts, which has its own thing. I had temporary health care for the last few months of 2014, which covered basic stuff (including dental). However, that temporary health care didn't cover root canals and I needed one (shrug). Now I'm enrolled in some kind of insurance through the Mass. system, but still waiting on my dental benefits card, even though I submitted my paperwork before the deadline. Basically, I'm a bit sour on the whole health care thing at this point, but I do still think that this is an important step toward a much better health care model.
I did, however, get me some Obamacare, and I'm loving it. :)
I'm glad to hear it. -even the "death panels?"