The title loan places have been ripping off the people who can least afford to pay such huge interest rates. Even loan sharks, which are illegal, don't charge interest rates that are as high as the title loan places! Now the big question is if the dems can get this accomplished or not.
Dems or not? NOT! wrote on December 11, 2006 3:59 PM: Wow!
!! What "good news" for the dupes silly or desperate enough to sign up to such loan sharking.
Is going after rent to own furniture and electronics stores next? They operate on such high margin too. Certainly it could never because these legal buinesses operate on such high risk and loss due to the clientele that the rates are justified?
To steal some well used liberal anti-reality logic; "All that will do is drive the most desperate money seekers to the back alley loan sharks", just like cracking down on abortionists is supposed to do. Our friends on the left are so good at appearing to fight for the down trodden, they are dead set for making all of us down trodden but their own elites!
Here's an idea wrote on December 11, 2006 4:15 PM: Make sure you have decent enough credit and you don't have to worry about getting a title loan and the high interest won't be a problem.
To "Here's an Idea" wrote on December 11, 2006 4:36 PM: People can have credit problems for various reasons - not just irresponsibility. Ever hear of identity theft? Divorce?
Credit report errors? You're being awfully insensitive. Hope nothing bad ever happens to you!
Retired Moliner wrote on December 11, 2006 7:41 PM: Long over due, the vulchers can fly elsewhere!
Mme Du Lait wrote on December 11, 2006 7:45 PM: Most people have money problems because of high medical bills. So say the statisticians who count up the reasons for bankruptcy.
Wouldn't it be nice if we lived in the perfect world of the 4:15 pm 3:15 pm posters.
Rip off companies wrote on December 11, 2006 10:16 PM: my husband was able to take out a title loan on MY vehicle. The title is in my name alone.
When i contacted the corporate office for the title loan company they told me that anyone can get a title loan on anyones vehicle. They even told me that if I could get ahold of my neighbors title I can take out a title loan on it and there is nothing that the owner of the vehicle can do about it. At least some of these title loan companies are out to rip people off and not just with the 300% interest rate.
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