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February 2012
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With more American’s struggling financially, payday loans are coming under scrutiny for trapping the working poor in a vicious cycle of debt. Armen Keteyian reports.
Video Rating: 4 / 5

25 Responses to “Payday Loans Scrutinized”

  • thetbomb says:

    I work for one of these companies is Canada and yes, it is sleazy…but it’s the morons who come in there’s choice. Why don’t they have credit cards to buy these short term things they need? Cause they ruined their credit already…they brought this shit on themselves… these’s always been money to be made off stupidity. I feel dirty…but no one’s holding a gun to their head.

  • brian8793 says:

    Everybody wants the government to hold their hand. Demcorats won’t be happy until the Government forms a committee to WIPE THEIR ASS

  • laetrille says:

    If you use them respinsibly they can be helpful, they give you three extensions. A smart person who borrows 300 with a total of 350 interest will pay the loan off then reborrow 250, pay that then pay 250 and reborrow 200 until the debt is gone. It seems like alot of money in interest but time is money and you will have a long time to pay it off. Unfortunately most people are not smart enough to do this.

  • bigbuttwhocares says:

    i’m a worker bee for the PayDay Loans and lemme tell ya. they are trashgarbage slobs.

  • akerspsych says:

    what SHE says was 1500%— yea right…

  • myacenetwork says:

    best cash loan lender in the uk midlandcash-com

  • masticina says:

    Geeh loans with 400% interrest.. I don’t see anything that can go wrong.

  • dsteitz1 says:

    If you have been turned down for a payday loan, or are looking for a great place to get one, try 1-877-271-2850.

  • royg6852 says:

    I don’t know about everyone elses experiences but we got $300 from cashloancity com and had it paid back after one extension. My wife and I couldn’t have been more pleased with the site.

  • TheGrassrootsallianc says:

    watch my video and let me know what you think.

  • PhailWynn says:

    and this payday loan bimbo? The stupid looking blond? “A small percentage” my ass.. I know four people who have had to declare bankruptcy because of these places. And it was, in fact COMPLETELY due to their relationships with payday lenders. They were living on nothing at the end. Absolutely nothing. And still couldn’t pay rent because those bastards worked it so their “payback” came out at the same time rent did.. thus making it necessary to borrow more.

    Bimbos shouldn’t be allowed on tv.

  • PhailWynn says:

    this is financial slavery. I’ve started working on a short documentary about these places and their victims with that truth in mind.

  • NAVRATNA11 says:

    @PaintPissOrCabaret Thank You, you are so right, they are evil because they make it so easy to get quick cash and charge piss-taking amounts of interest…i may very well be one of the next statistics facing bankruptcy as a result of using them!!

  • NAVRATNA11 says:

    payday loans are just mega expensive debt wrapped up in candy floss…i say don’t get one unless you have a death-wish!!

  • jesseakers says:

    what she says was 1500- lets see the proof of that… its the interest on the loan… well duh! Payday loans are meant to be paid THE NEXT PAYDAY- not a year later— maybe we should just give irresponsible people money-that would fix everything… just print more money, thats it!

  • PaintPissOrCabaret says:

    Yes payday loans are evil and prey on the most vulnerable members of society. Even so, 400% is not so bad. Here in the UK thethe payday loan interest rates are between 2000% and 4000%. It’s not against the law but it should be!

  • mypaydayanyday says:

    figure out your interest rate for the first year of a 30 year mortgage. Ask your bank for a list of their fees. Payday loans can cost you money just like anything else you borrow against. Here is a tip don’t borrow money in any fashion. I am a lender and we don’t loan to people who don’t have the ability to pay the money back. After I pay all of my bills to run the company I don’t make anything close to 400%, that is such a lie.

  • nikefan1985 says:

    @HowlinJay I work for a payday loan company myself and get treated like shit. I got trained to do things I thought I was suppose to and all of a sudden my manager has done nothing but treated me like shit telling me everything I’m doing is “wrong”.

  • mattt1ooo says:

    BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
    In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!

  • luvs2teach00 says:

    Payday loans benefit people who get paid monthly. You have to wean yourself off them and that is what I am doing. I believe that the government should regulate the interest of payday loaners. People will call that socialism, but it is better to do that then to take advantage of low income middle class people. School systems, parents, communities, and our federal government need to take a class in economic and financial literacy.

  • thesouthrapsucks says:

    fuck a payday loan

  • HowlinJay says:

    I work for a “Payday Loan” office…they’re fucking evil. Trust me.

    The company I work for treats their employees like shit, and they don’t give a goddamn about the customer.

  • jimbob77784 says:

    she fat

  • vaguy78 says:

    The gentleman at :42 appears to be retrieving a rifle and box of ammo from the back of his truck. Perhaps he is attempting to settle his debts in a non-traditional manner?

  • SAXORXIII says:

    how would you that legaly?

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