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Funding Your Buddy's Bachelor Party Through A Payday Loan?

posted by Nathalie Martin

You probably know that title lenders and payday lenders are not just looking for customers who are faced with an emergency.  According to the lenders’ ads, there are many great reasons to take out such a 300% loan.  This ad, however, takes the cake.


Does the industry look less predatory if it charges a stiff interest rate for a frivolous weekend than if it charges the same interest rates to a single mother looking to buy groceries?

Maybe so. The intended target audience (I assume college kids and the newly working) could always get a bailout later from mom and dad if necessary.

You have got to be kidding me? The sad thing is some people will fall for this...just like they fall for paying off your unsecured credit card debt by placing a 2nd, 3rd, if not 4th secured mortgage on your house.

The link "ad" has been dead!

Yeah, they pulled it right after this blog, and a New York Times article that followed. I wish I had saved the text, it was priceless. Still, I am glad it has been pulled off the web.

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