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View Full Version : Anyone else see Willie Green on TV the other day?

DennisSmithHOF
05-20-2005, 10:36 AM
It was either on Wed or Thurs. night on one of the news shows like 60 Minutes or Dateline or whatever. The story was about these cash advance places that are every where. This one lady borrowed $2500 and had to repay $10000 or something like that because if you don't pay the money back right away they charge you 205% or some ungodly number like that.
Well, Willie Green is the chairman of the board for one of these companies in the Carolinas and they interviewed him about. It was pretty funny how they kept trying to get him to say that it is a racket. He just said that they charge the high interest because there is no collateral on the loan and that he hasn't forced anybody to borrow money from him. Pretty interesting stuff.
Hotrod
05-20-2005, 10:40 AM
Those things need to be done away with. Not that they are actually illegal its just people who need to use those things really might not be smart enough to understand what they are doing. Its like selling football tickets at narrowhead and the people think they are going to get a quality product. When in reality they are getting hosed.
Sean
05-20-2005, 01:23 PM
Its like selling football tickets at narrowhead and the people think they are going to get a quality product. When in reality they are getting hosed.

Hahahahah
Tredici
05-20-2005, 03:24 PM
I saw some news show about the "Payday" places who give you an advance in return for your paycheck. But they don't tell you what those days will cost. I saw some stupid couple who were in debt to the tune of 70K and were still flipping paychecks through there. They had no idea the debt would never be paid off on the installment plan.

Those places take advantage of the stupid. But it's hard to feel sorry for people that stupid.
-Slap-
05-20-2005, 06:59 PM
Vegas is rife with those places. I know, big surprise. Its kind of amazing that usery laws don't apply to those outfits. Of course, in old Vegas you had lending institutions that didn't bother with trapping you into revolving debt. With those guys, if you missed a couple payments you wound up in a hole in the desert.