The beginnings of an article for THINK

So if you live in an inhabited area, chances are you've seen those little places in shopping centres that advertise laons. "We'll give you money and save you from debt!" "Get an advance on your next paycheck here!"
Which may be awfully tempting to some people, especially in a financial emergency where you need money fast, but the one thing these places forget to mention is how insanely hard it is to pay back the loan.
Not only do you have to completely repay the money borrowed, but the interest rates can be anywhere from thirty to ninety percent, ending up with you paying up to three times what you borrowed and usually resulting in putting you so far in debt that you're praying for a time when all you had to worry about was where to get the extra three hundred dollars for a medical bill.

These places are called Predatory Lenders.
It is their function on this planet to take advantage of America's minimum wage family by offering them money when they are desperate to fix the car so they can commute or Pay for their son's braces, then making them pay back with everything they own and most things they don't.

I'm serious. People like this teach us the importance of having rich friends. Friends don't charge interest.
Some big companies (like Levi's for example) have created programs that will lend money to it's employees without charging interest. Levi's also teaches a class on money management which helps people learn to make budgets and get loans from people who won't make them pay through the nose for it later.

I don't know why money management isn't taught in high school. I took TSA and all I know is how to write a check. You'd think if there were people out there trying to completely rob you of every penny, someone would warn you about it beforehand. But that's why you have us.


For more information on Predatory Lending, visit www.NCRC.com