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Popping up over the years I've noticed an abundance of businesses payday loan type and speed. Generally, there are areas where there is a larger cash economy. Generally, people in some parts of the city with a regular bank account, at least speak English and do not trust banks, more or less economically savvy people where you hang your hat. Very friendly because you can not balance a checkbook does not do well in a regular bank account. Whose fault is no one to blame, is not it? Normal banking sector caused by the recent economic recession has taken a hit like that has flourished in this space.
Years ago, I started a payday loan business, and a pawn shop may have had an acquaintance's all this talk about you. We used to call him and tease him a loan-shark. He strongly defended his establishment and the free market as the only fair condition claimed. To bring their own personal items he or expensive consumer credit did not hold a gun to anybody's head said, they did it with the choice and freedom, and the respect I have for someone who loves freedom and choice. Yes, I understand this argument. Still, when you see a lot of these types of businesses in this town, well, you know they.
I've always said that as you say the neighborhood is going to attract the wrong element. Citizen for any reason, at this level, because you may not be able to use the banking system, perhaps this is normal. Perhaps you've done it before knows that personal choices, however, do not hold true to my observations. Liquor stores, dollar stores, tattoo parlors, and neighborhoods with a plethora of bars, usually always more and more, in a strip center near the famous refer to the establishment of payday loans. . Yes, even out of the line or loitering in front of bulletproof glass and often less-than-desirable standing, should be a good business model.
Then again, I know my past, as said, hell, who am I to judge? In affluent suburbs really sure, there are a few, but the city or in poor neighborhoods, full of low-rent apartments in areas close to large shopping mall and see all payday loan companies do not see much. There are all these other issues, many people are going to cash checks in these types of places to see and I am sure they are related to the company there is a risk, but it also provides a business model to make it, takes a heavy toll. People working under the table, paying taxes, getting occasional controlled - this places cash checks.
Consumer loan these days seem to have a problem with credit card companies charge insanely high interest rates and the largest continuous balance and make a killing off this. They are regulated as banks, loans can not charge that much for, but it may be due to the lobbying power of these companies. I want to put into it is the same thing as the basketball court, applies to the pay day loan. Let's face it the poor people make bad decisions, they often do not have much choice, but I prefer to use one of them as an enterprise that personal economic reality of their choices, no matter what the cause of this nation is a wise decision yet on the other.
The Wall Street Journal is trying to cut down on the cash economy and how the IRS payday loan companies and pawn shops have sprung up to meet, how many articles on how to have made over the years, the free market, the needs of those who are playing in the major areas of our economy . Cash and organizations such as the growth of the economy really grown over the years.
In addition, although I know have to say about all of this, I do not think this is a positive development. Only the economic enslavement, high interest rates and short-term borrowing on the rising crime and tax evasion has been little. So, the other day, sitting in Starbucks overheard a conversation, someone said, "I need a payday loan fast," I thought to myself, "no, it's not" just a poor, probably temporary economic decision, it is his habit, and why it is still bad . Think of all of this and think on it.