- Anonymous1 year ago
I don't hate them. I don't believe they're "exploitative". They're voluntary, and they serve a purpose for people who may not have better options due to their own past behavior(s).
They're a horrible deal for people who do have options, though.
- ?Lv 71 year ago
payday loans are convenient but they cost an awful lot of money and can be dependent
- JudyLv 71 year ago
- Jewel LittlenutsLv 71 year ago
They are greedy pigs who charge far too much and the online ones are the worst because the person applying could be drunk and not thinking about it properly.
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- MichaelLv 71 year ago
Because borrowing money at low interest rates is better than borrowing money at high interest rates, and interest rates don't get much higher than payday loans.
- MercyLv 71 year ago
They take advantage of people who don't know know how to figure the huge amount of interest they will be paying.
- D.E.B.S.Lv 71 year ago
It's a loan of last resort with very high interest rates.
- MetalplanttagLv 71 year ago
Why throw money away paying fees and interest? It is a good way to keep ones self poor.
- ScottLv 71 year ago
Because they often exploit poor people, who can least afford the exorbitant interest they charge.