Rent a center should be illegal

[AV Dicey]

im kinda hesitant to group this in with payday loans who are preying on people who need money before they get evicted/have utilities shut off, etc

it's not the best use of money, but if you want to rent frivolous shyt for the experience

This.
payday loans I get, but someone getting charged exorbitant amounts on beats, thats on you chief

 

[ghostwriterx]

i dont have any interest in politicians sitting around writing laws that interfere with customers making a willing agreement to buy frivolous, non-necessity items. it's a trash precedent

you know what they need to go after is the title insurance industry this shyt is disgusting. im buying a place now and only iowa guarantees your title for like a hundred bucks. these fukkin companies are giving lawyers an 80% commission to sell you owners title insurance

So your tune changes when YOU are the one getting exploited?

 

[the cac mamba]

So your tune changes when YOU are the one getting exploited?

i was expecting someone to say that, shouldnt have bothered mentioning it in this dumbass thread. completely different industry

 

[MR. SNIFLES]

YOU CAN'T BLAME THEM. FOOLS AND THEIR MONEY...

 

[re'up]

The poor are subjected to this, because due to their circumstances, which is due to their exploitation, many are ignorant of the ways these places take advantage, and in fact, many KNOW better but it is simply the best option. Liquor stores in lower income areas take advantage of this. They charge a mark up, that Wal Mart doesn't but Wal Mart is 3 miles away, and many don't drive, or the car has problems, or 6 people share one car, or whatever. Public transportation is limited.

Capitalism is based on that formula, which means most of our hands aren't clean, including mine, this is what we were born into. But, you can speak up for the privileged, or the underclass, that is a choice you get to make.

 

[Lordgodking Nyc]

Rent-A-Center to Pay $109 Million Settlement
BY DEBRA CASSENS WEISS

POSTED MAY 3, 2007, 12:15 PM CDT

• 
  
• New Jersey Law Journalthat the estimated 100,000 class action plaintiffs will each receive about $800 on average.
  
  Name plaintiff Hilda Perez had sued the Plano, Texas, company after it filed a small claims suit against her for stopping payments on a contract to pay more than $18,000 for items worth about $9,300. Perez had stopped making payments after paying about $8,100

 

[winb83]

These places aren't shyt. The real problem is payday loans.

When I was broke as hell and blew a tire on my car I went and got a payday loan. Paid it back my next check and never stepped back in a place like that again. That was a real low point for me. I turned my life around after that and I got started on an emergency fund not long after that. It was humbling to be driving around in a car and come to the realization that if this car broke down I couldn't afford to get it fixed.

 

[Orbital-Fetus]

true story.

this guy i managed back in the day was renting a very large flat screen TV.
this was over 15 years ago.
this shyt was like 65".

it was huge, especially for the time.
it sat on the floor about 12" from the foot of his bed.
he used it to play video games.
he would sit on his bed and play games on a 65" TV....and he's one foot away from the screen.

he could not keep up the payments so they came to take it back.
as the old rental was being taken away, a new one was on the way from a different rental place.
it was even bigger than the last one.

he was proud to have secured a larger rental.

 

[dora_da_destroyer]

Man, I don’t know I’d call that racism vs. doing some fukking math. Pay day loans and rent (to own) ain’t just targeting black, they prey on the poor in general, and again, it’s simple math, has to be some accountability with the leasee.

You paying $20 a week locked into a 3 yr term, simple multiplication to see the final price vs. saving $20 for XX number of weeks and buying outright. The only reason I can see for needing to jump into a rental is some shyt where your kid needs a laptop for school and clearly you can’t delay getting one.

 

[hashmander]

Man, I don’t know I’d call that racism vs. doing some fukking math. Pay day loans and rent (to own) ain’t just targeting black, they prey on the poor in general, and again, it’s simple math, has to be some accountability with the leasee.

You paying $20 a week locked into a 3 yr term, simple multiplication to see the final price vs. saving $20 for XX number of weeks and buying outright. The only reason I can see for needing to jump into a rental is some shyt where your kid needs a laptop for school and clearly you can’t delay getting one.

shyt even that is not a good reason. go into crippling debt for a computer? if you're that poor there has to be some govt subsidized computer purchasing program or if a school requires it then they should be supplying it. i know the county i live in does that for the kids who are required to have one for their class.

there is no good reason to ever set foot in a rent to own store unless they're going out of business and having a liquidation sale.

 

[DEAD7]

Btw, AcceptanceNOW, a financier that sets up in furniture stores like Ashley and Value City, is owned and operated by Rent-A-Center.

Made 100% of my payments on time on some furniture, paid it off in 3 months, and it still f*cked up my credit (shortened my overall average credit history).

It's not worth it. :tchallascust1:

Why did you this route? and what was plan B?

 

[DEAD7]

capitalism is the problem here.

 

[winb83]

Yall looking at this the wrong way. There are people who make minimum payments on their credit cards and carry balances for a long time. They're also paying ridiculous amounts of money for stuff. They're paying interest on the interest in some cases. There's a lot of people with thousands of dollars in credit card debt that can't pay it off doing that.

Like I said the real problem is payday loans. That's a debt trap for low income people that have an emergency and need help.

There's almost nothing you have to walk into a Rent-A-Center and rent that you can't manage to get another way or don't even need in the first place. You walk into a payday loan place because you have something that has to be taken care of and have little to no other choice.

 

[Pressure]

The poor are subjected to this, because due to their circumstances, which is due to their exploitation, many are ignorant of the ways these places take advantage, and in fact, many KNOW better but it is simply the best option. Liquor stores in lower income areas take advantage of this. They charge a mark up, that Wal Mart doesn't but Wal Mart is 3 miles away, and many don't drive, or the car has problems, or 6 people share one car, or whatever. Public transportation is limited.

Capitalism is based on that formula, which means most of our hands aren't clean, including mine, this is what we were born into. But, you can speak up for the privileged, or the underclass, that is a choice you get to make.

This is largely the key point of the article. These industries are predatory, but they survive because they position themselves in the communities of the poor, lower educated, and easily exploitable.

People continue to push the line that pay day loans are required, when in reality they also hit on what has become a permanent underclass that the wealthy continues to get wealthier off of.

 

[Pressure]

Yall looking at this the wrong way. There are people who make minimum payments on their credit cards and carry balances for a long time. They're also paying ridiculous amounts of money for stuff. They're paying interest on the interest in some cases. There's a lot of people with thousands of dollars in credit card debt that can't pay it off doing that.

Like I said the real problem is payday loans. That's a debt trap for low income people that have an emergency and need help.

There's almost nothing you have to walk into a Rent-A-Center and rent that you can't manage to get another way or don't even need in the first place. You walk into a payday loan place because you have something that has to be taken care of and have little to no other choice.

People don't only use payday loans for necessities, but both businesses are two sides of the same coin.