This is not about the military charging those interest rates

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Post #266,399 by jake123 8/30/06 7:59:57 PM Reply	This is not about the military charging those interest rates There are a bunch of little lending shops called things like Payday Loans and Instacash on corners that will lend you a few hundred bucks until your next payday for a fee. All you have to show them is a few stubs showing you can cover it when your checque arrives and they'll lend you the money. What is being proposed is that those shops have to "only" charge a maximum of 36% when the pay stub in question comes from the military, as opposed to the several hundred percent APR that they apply to most people for borrowing money for a few days (eg- typical terms would be borrow a hundred bucks and pay back a hundred and three bucks four days later -- do the math to find out what the APR of that loan is). --\n-------------------------------------------------------------------\n* Jack Troughton jake at consultron.ca \n [link\|http://consultron.ca\|http://consultron.ca] [link\|irc://irc.ecomstation.ca\|irc://irc.ecomstation.ca] \n Kingston Ontario Canada [link\|news://news.consultron.ca\|news://news.consultron.ca] *\n-------------------------------------------------------------------
Post #266,413 by warmachine 8/31/06 8:44:54 AM Reply	My mistake Matthew Greet Choose Life. Choose a job. Choose a career. Choose a family. Choose a fucking big television, choose washing machines, cars, compact disc players and electrical tin openers. Choose good health, low cholesterol, and dental insurance. Choose fixed interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisurewear and matching luggage. Choose DIY and wondering who the fuck you are on a Sunday morning. Choose sitting on that couch watching mind-numbing, spirit-crushing game shows, stuffing fucking junk food into your mouth. Choose rotting away at the end of it all, pishing your last in a miserable home, nothing more than an embarrassment to the selfish, fucked up brats you spawned to replace yourself. Choose your future. Choose life... But why would I want to do a thing like that? I chose not to choose life. I chose somethin' else. And the reasons? There are no reasons. Who needs reasons when you've got heroin? - Mark Renton, Trainspotting.
Post #266,442 by jbrabeck 8/31/06 12:42:44 PM Reply	Or the bank overdraft charge of $33 for a $2.00 od, which is paid off immediately on the next clock cycle when the payroll check is credited. What't the APR for a "loan" that lasts only 1 second? A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort. (Herm Albright)
Post #266,443 by jake123 8/31/06 12:47:01 PM Reply	Not how these shops work, at least in Canada The longer the wait for your paycheque, the more you have to pay, so it is an interest rate, not a od charge sort of deal. --\n-------------------------------------------------------------------\n* Jack Troughton jake at consultron.ca \n [link\|http://consultron.ca\|http://consultron.ca] [link\|irc://irc.ecomstation.ca\|irc://irc.ecomstation.ca] \n Kingston Ontario Canada [link\|news://news.consultron.ca\|news://news.consultron.ca] *\n-------------------------------------------------------------------

Soldiers & payday loans - (dmcarls) - (18) - Aug. 30, 2006, 03:29:15 PM EDT

We had a line of those shops shut down up here in - (jake123) - (7) - Aug. 30, 2006, 03:53:33 PM EDT

So much for looking after their own. - (warmachine) - (6) - Aug. 30, 2006, 05:16:05 PM EDT

Not hate, I wot - - (Ashton) - Aug. 30, 2006, 07:14:28 PM EDT

This is not about the military charging those interest rates - (jake123) - (3) - Aug. 30, 2006, 07:59:57 PM EDT

My mistake -NT - (warmachine) - Aug. 31, 2006, 08:44:54 AM EDT

Or the bank overdraft charge - (jbrabeck) - (1) - Aug. 31, 2006, 12:42:44 PM EDT

Not how these shops work, at least in Canada - (jake123) - Aug. 31, 2006, 12:47:01 PM EDT

well when I was in the Royal Navy - (boxley) - Aug. 30, 2006, 08:44:40 PM EDT

Give 'em government credit cards instead - (imric) - (4) - Aug. 30, 2006, 08:52:38 PM EDT

'Finding Machiavelli' Award - (Ashton) - (3) - Aug. 31, 2006, 03:55:14 PM EDT

Re: 'Finding Machiavelli' Award - (dmcarls) - (2) - Aug. 31, 2006, 04:34:22 PM EDT

s/a/g -NT - (boxley) - Aug. 31, 2006, 06:54:48 PM EDT

Will keep last two \ufffds in mind.. - (Ashton) - Sept. 1, 2006, 06:38:17 PM EDT

The military does give loans.... - (tonytib) - (4) - Aug. 31, 2006, 01:56:29 PM EDT

I must have missed something - (drewk) - (2) - Aug. 31, 2006, 02:15:46 PM EDT

Yes, and... - (Yendor) - (1) - Aug. 31, 2006, 02:27:29 PM EDT

Check - (drewk) - Aug. 31, 2006, 02:32:40 PM EDT

I spent many years in Army Finance - (jbrabeck) - Aug. 31, 2006, 03:52:51 PM EDT

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