Comments on: Fees Associated With Payday Loans http://www.leadpile.com/lead-exchange-blog/2008/10/29/fees-associated-with-payday-loans/ Leadpile - The World's Largest Lead Marketplace / Lead Exchange - Where Lead Buyers and Sellers Meet! Thu, 18 Mar 2010 21:58:41 -0700 http://wordpress.org/?v=2.8.5 hourly 1 By: Casey http://www.leadpile.com/lead-exchange-blog/2008/10/29/fees-associated-with-payday-loans/comment-page-1/#comment-4394 Casey Thu, 30 Oct 2008 18:28:27 +0000 http://www.leadpile.com/lead-exchange-blog/?p=5164#comment-4394 Forget if you agree with pday loans or not- FOCUS on the fact that the Ohio General Assembly thinks they have the right to control what financial products are available to the citizens of Ohio. Big brother style. Forget if you have used a PD loan or not-- FOCUS on the fact that other consenting adults do and are capable of making their own decisions, based on their individiual situations. Who are we to say no, you can't use that credit card? Or no you can't use that bank? Forget everything else -- FOCUS on the fact that eliminating payday loans DOES NOT eliminate the need for short term financial options. I bet 99.9% of the OGA doesn't have to worry about the day to day necessities the rest of are dealing with. They have insurance, pensions, well paying jobs. Forget about the Pday loan argument -- FOCUS on the controlling and spending of our household money by the state. Considering our current economic situation... I vote for less intrusion!! PLEASE let me manage my own darn $$ since the gov't has shown they are not responsible, accountable or budget conscious. Ohio>> 60M in debt!! Forget about the Pday loan side-- FOCUS on what else the government is going to decide in the future (under the guise of "paternalism") that we aren't capable of handling as adults. Restricting how much can be spent on food? alcohol? cigarettes? housing? gambling? clothes? FOCUS on the fact that the OGA is intruding on our personal financial decisions... where does it stop?? Why do they think they know better what will work for us than we do? We live it every day!!! The Issue of 5 is waaaay bigger than PD Loans >> its about Financial Freedom of Choice, which I consider to be a BASIC FUNDAMENTAL RIGHT! ***NO on ISSUE 5!**** Forget if you agree with pday loans or not- FOCUS on the fact that the Ohio General Assembly thinks they have the right to control what financial products are available to the citizens of Ohio. Big brother style.

Forget if you have used a PD loan or not– FOCUS on the fact that other consenting adults do and are capable of making their own decisions, based on their individiual situations. Who are we to say no, you can’t use that credit card? Or no you can’t use that bank?

Forget everything else — FOCUS on the fact that eliminating payday loans DOES NOT eliminate the need for short term financial options. I bet 99.9% of the OGA doesn’t have to worry about the day to day necessities the rest of are dealing with. They have insurance, pensions, well paying jobs.

Forget about the Pday loan argument — FOCUS on the controlling and spending of our household money by the state. Considering our current economic situation… I vote for less intrusion!! PLEASE let me manage my own darn $$ since the gov’t has shown they are not responsible, accountable or budget conscious. Ohio>> 60M in debt!!

Forget about the Pday loan side– FOCUS on what else the government is going to decide in the future (under the guise of “paternalism”) that we aren’t capable of handling as adults. Restricting how much can be spent on food? alcohol? cigarettes? housing? gambling? clothes?

FOCUS on the fact that the OGA is intruding on our personal financial decisions… where does it stop?? Why do they think they know better what will work for us than we do? We live it every day!!!

The Issue of 5 is waaaay bigger than PD Loans >> its about Financial Freedom of Choice, which I consider to be a BASIC FUNDAMENTAL RIGHT!

***NO on ISSUE 5!****

]]> By: Payday Lending Rep http://www.leadpile.com/lead-exchange-blog/2008/10/29/fees-associated-with-payday-loans/comment-page-1/#comment-4384 Payday Lending Rep Thu, 30 Oct 2008 16:54:17 +0000 http://www.leadpile.com/lead-exchange-blog/?p=5164#comment-4384 Absolutely and thank you for taking the time to dispute this myth. CFSA supports regulations that ensure the product is used responsibly and we are doing our part to encourage responsible use. We want customers to use payday advances wisely and we want the service to be a solution, not a problem, for individuals who need low-dollar, short-term credit. Indeed, a payday loan may not be the best choice in every situation. To that end, CFSA member companies have taken a significant step forward in our ongoing commitment to responsible lending. CFSA has made significant changes to the Best Practices, including: displaying fees in large font on posters in all store locations and on their web sites; offering payday loan customers the option of an Extended Payment Plan if they cannot repay their loan when due; placing a “Customer Notice” on all CFSA member-company advertising and marketing materials; banning advertising that promotes the payday advance service for frivolous purposes; requiring CFSA members to prominently display the CFSA seal to help customers identify responsible providers that adhere to these and other CFSA Best Practices. This is part of our ongoing effort to respond to the concerns of policymakers and protect the financial well being of our customers. Absolutely and thank you for taking the time to dispute this myth. CFSA supports regulations that ensure the product is used responsibly and we are doing our part to encourage responsible use. We want customers to use payday advances wisely and we want the service to be a solution, not a problem, for individuals who need low-dollar, short-term credit. Indeed, a payday loan may not be the best choice in every situation. To that end, CFSA member companies have taken a significant step forward in our ongoing commitment to responsible lending.

CFSA has made significant changes to the Best Practices, including: displaying fees in large font on posters in all store locations and on their web sites; offering payday loan customers the option of an Extended Payment Plan if they cannot repay their loan when due; placing a “Customer Notice” on all CFSA member-company advertising and marketing materials; banning advertising that promotes the payday advance service for frivolous purposes; requiring CFSA members to prominently display the CFSA seal to help customers identify responsible providers that adhere to these and other CFSA Best Practices.

This is part of our ongoing effort to respond to the concerns of policymakers and protect the financial well being of our customers.

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