Is owning a check cashing/payday loan center harmful to the black community?

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Memorial Stadium Piru

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:patrice:

A friend of mine has the opportunity to open one, at a centrally located area I might add(Sunrise Boulevard for the SFL brethren), which could be extremely lucrative

I mean, by this time everybody knows that they're not a good idea right? So the people that still visit these places are doing it on their own choice and the owner shouldn't have a guilty conscience :manny:
 
Elfuego

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Ive been thinking bout opening one up too. Poor people love throwing away their money. why not give it to me
 
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It's a double edged sword.

People say they "prey" on minorities and it may be true. But there is a way to lend money honorably as well.

If your friend has ethics and morals and makes sure that he offers a fair interest rate and explains his policies very clearly to his customers...I don't see why not. If he tries to swindle people then it doesn't matter if he is selling tires, loans, or burgers :yeshrug:

Also, it is a service that may be necessary. IF the shop is going to be there regardless, why not be black owned :ehh:
 
peppe

peppe

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people say they prey on minority's but to be honest before I take out a loan I make sure to know what the rate is and/or extra policies.

saying it that would be bad for black people is like saying we can't read/stupid. I'm pretty sure the people know how much the interest rate is but it's fast money that is available right away in hand, that's what makes it so tempting.

The same rules apply in real life if you don't have the money then walk away, it's a simple as that. It's 2017 on the payday loan sites here, the rates are clearly stated if people still do it then that's on you. :ufdup:

Use your head and don't act emotionally but rationally and it shouldnt be a problem walking away from it.

It's the same thing like saying "oh I didnt know meth was that addicting" no breh you knew, it's 2017 even your grandma knows:ufdup:

I think it's funny people blaming those payday loan companies, making it seem like they went up to you and said "come on in my fine customer and here is some money, the rates don't matter" :beli:

It's you who walked in and you who signed and you who is to blame if you can't pay it back at those high interest rates:ufdup:
 
hayesc0

hayesc0

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peppe said:
people say they prey on minority's but to be honest before I take out a loan I make sure to know what the rate is and/or extra policies.

saying it that would be bad for black people is like saying we can't read/stupid. I'm pretty sure the people know how much the interest rate is but it's fast money that is available right away in hand, that's what makes it so tempting.

The same rules apply in real life if you don't have the money then walk away, it's a simple as that. It's 2017 on the payday loan sites here, the rates are clearly stated if people still do it then that's on you. :ufdup:

Use your head and don't act emotionally but rationally and it shouldnt be a problem walking away from it.

It's the same thing like saying "oh I didnt know meth was that addicting" no breh you knew, it's 2017 even your grandma knows:ufdup:

I think it's funny people blaming those payday loan companies, making it seem like they went up to you and said "come on in my fine customer and here is some money, the rates don't matter" :beli:

It's you who walked in and you who signed and you who is to blame if you can't pay it back at those high interest rates:ufdup:
Click to expand...
Not that simple people sometimes get very desperate and don't know they gonna be in a never ending cycle but one unexpected expense makes it where u can never get that shyt resolved.
 
peppe

peppe

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hayesc0 said:
Not that simple people sometimes get very desperate and don't know they gonna be in a never ending cycle but one unexpected expense makes it where u can never get that shyt resolved.
Click to expand...

Yup I know and that's what makes us human, but I believe you should be man enough to look yourself in the mirror and and say I'm the one to blame.
 
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