Not being one to duck below the parapet .........

[blackburn_stevie]

What gives the government the right to enforce a cap on the percentage rates charged by Payday Loan companies and the like?

Let's be honest for a moment. If some bloke, woman or family buy beer, fags, 50" flat screen tvs, Sky packages, iPads, etc rather than pay bills and then are stupid enough to go to one of these Payday loan places, why not just let them not pay the lender, get take to court, fined, not pay the fine and get sent to prison. The kids get taken into Care where, quite frankly, they will be much better off and can anybody tell me who the losers are in this situation?

[bankhaunter]

why not just let them not pay the lender, get take to court, fined, not pay the fine and get sent to prison

You cannot be sent to prison for debt, you should update your info sources, Charles Dickens is probably a bit out of date.

Also perhaps look a little wider than the pages of the DM.

[blackburn_stevie]

Just asking .... Was the "Council Tax" under whatever name folk want to use, a different thing altogether?

ps ..... Actually, it was the News at One. I only read the DM when there is a link to it on these pages.

[cee-dee]

You may not get jailed for debt but you can certainly be jailed for not paying a fine!

[bankhaunter]

If it is deemed you refused to pay council tax you can go to prison for not paying tax although it is usually for contempt of court after the court has ordered you to pay and you didn't.

It's much the same with TV licences but civil debts are not enforceable that way despite there being some unscrupulous operators who will say you can.

The large majority of those with payday loan problems are on low incomes who need the money for paying essential bills and are the prime targets of the loan companies who will do their best to push rollover loans.

Those companies know exactly what they are doing and if they get hit by bad debts, they thoroughly deserve it, however with the profits they make that is not likely to be a problem, they will have allowed for it in their interest rates.

She turned to payday loans after she found herself trying to feed three people on a budget of £30 a week

http://www.theguardian.com/money/2013/oct/01/payday-loans-feed-families-report

Discount loan offered after original repaid: a borrower was pestered with numerous phone calls, texts and emails offering to roll over the loan. As soon as the loan had been repaid they then got a text offering a new loan at a discount rate.

http://www.citizensadvice.org.uk/export/index/aboutus/press11072013-2

[**forum-decorum**]

I do agree with some of your argument Stevie, that life necessities should be bought and paid for rather than 50W TV's cigerettes and the like but I do agree with the capping. This new fashion of payday loan companies are just unscrupulous greedy people who are quite happy to take advantage of the poorer people in our society just to make a quick buck.

If 5,000 odd percent interest is OK with you then that is alright but I personally think it is out of order. They hide under the misconception they are helping people. It is just pure selfish greed.

[ronnybabes]

I agree with Golden Nugget -  Stevie,  - also, do you realise how much it costs us, the British Taxpayer, to keep a person in Prison for a week.

They win all ways round, kept by the State, debt wiped out, and then back home again. 

Better to fine them, make them pay their debt, and not imprison them eh!!

So make a realistic capping, that can be afforded, while giving Loan Companies, a healthy profit, rather then an obscene profit.

[blackburn_stevie]

IMHO, the pure selfish greed is shown by the companies that get people to sign a 3 year contract to pay for the TV and the Sky contract.

I also agree that a large proportion of the blame should be snagged by the guy on the e way down. he had thee   of them. m m

[bankhaunter]

If 5,000 odd percent interest is OK with you then that is alright but I personally think it is out of order. They hide under the misconception they are helping people. It is just pure selfish greed.

This could hardly be considered helping someone, from one of the links I gave earlier.

one borrower fears he will lose his job and home as payday lenders left just £1.17 of his weekly wage in his bank account, leaving him without money to pay for travel to work or board where he is staying.

They get access to borrowers bank accounts and just help themselves, not necessarily the proper amounts either and of course there is always fraud to consider, many people have faund money leaving their account to pay for loans they have not taken out.

[bankhaunter]

Better to fine them, make them pay their debt, and not imprison them eh!!

If you are talking about council tax or TV licence fees, people don't go to prison unless they don't pay so a further fine would be a bit pointless.

For any cases of civil debt, it has not been possible to send someone to prison for non payment for the past 144 years, the mechanism doesn't exist.

[spawnjohnuk]

I have to laugh,how is gov capping loan companies related in any way to sending peeps to prison for smoking ,drinking ,watching large tv pictures ,hahahaha ,your an advocate of IDS welfare AND summerizing people on a ''theyre all at it if theyre poor and need to borrow money'' mindset then stevie ?

Thought you knew better 🙂

[lost.parrot]

Amazing how often the DM is quoted here, but very few claim to read it as such.

Certainly the idea that most who apply for such loans do so because somehow they spent everything on luxury consumables they didn't need is a common DM bit of fiction. I doubt really that is the case, but it's a fantasy of not just DM readers, but certain other sections of society.

[ronnybabes]

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@lost.parrot wrote:

Amazing how often the DM is quoted here, but very few claim to read it as such.

You seem to be easily amazed. 

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http://community.ebay.co.uk/t5/The-Round-Table/Elf-and-safety-gone-mad/m-p/2331572#U2331572

[bankhaunter]

I found a quote from the DM.

But those who turn to payday loan firms are sometimes desperate and often disadvantaged.

What they need is protection.

What they have is the Wild West, with companies behaving as they please and charging what they like.

The problem with newspaper columnists is that there is no obligation on them to tell the truth, they can present things as facts without needing to back them up.

[lost.parrot]

It's common usage. I wouldn't want you falling over every few seconds as your little man does. 

The main aim of the tabloids is to provide a story to get a reaction from it's readers. If that coincides with the truth, fine. If if doesn't , fine.

[ronnybabes]

       Aww! Thanks.

         

 Tabloids is better, but  it's the obsession, and derision  by some Posters that target people who read the Daily Mail that I take issue with.

As if these said Posters know better. Yet the very same seem  very knowledgeable about a paper they so obviously despise, and would never ever read. 

[lost.parrot]

Are they better?....I thought you didn't read the DM?

Who are these 'targets,' since no one here so far, claims to read the DM? Who are these 'said' posters you babble on about?
If I were to agree with you, then we would clearly both be wrong
In the normal course of events, no I wouldn't read the DM as a newspaper, but then you claim not to yourself, despite linking to it for an obvious pavlovian-type story. Latest link, a story of the youngest mum in the UK, which appears to be a story about 7 years old but presented as contemporary, and talks of the mum being 11 rather than her current age of about 19. The pregnancy was the result of a serious sexual assault within the family, not as originally reported

The Kinder moral compass

[tommy.irene]

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@lost.parrot wrote:

Are they better?....I thought you didn't read the DM?

Who are these 'targets,' since no one here so far, claims to read the DM? Who are these 'said' posters you babble on about?
If I were to agree with you, then we would clearly both be wrong
In the normal course of events, no I wouldn't read the DM as a newspaper, but then you claim not to yourself, despite linking to it for an obvious pavlovian-type story. Latest link, a story of the youngest mum in the UK, which appears to be a story about 7 years old but presented as contemporary, and talks of the mum being 11 rather than her current age of about 19. The pregnancy was the result of a serious sexual assault within the family, not as originally reported

The Kinder moral compass

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I read The Mail On Line ..The SUN.. Mirror ..The New York Times.. The Washington Post and the Beano. 

[tommy.irene]

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@blackburn_stevie wrote:

What gives the government the right to enforce a cap on the percentage rates charged by Payday Loan companies and the like?

Let's be honest for a moment. If some bloke, woman or family buy beer, fags, 50" flat screen tvs, Sky packages, iPads, etc rather than pay bills and then are stupid enough to go to one of these Payday loan places, why not just let them not pay the lender, get take to court, fined, not pay the fine and get sent to prison. The kids get taken into Care where, quite frankly, they will be much better off and can anybody tell me who the losers are in this situation?

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So if the goverment say that all goods sold on ebay shouldnt be more than £5 you would all agree. The Goverment should look at its own expences.

[ronnybabes]

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@lost.parrot wrote:

Are they better?....

Don't know, and not bothered either way!

I thought you didn't read the DM?

You thought right.

Who are these 'targets,' since no one here so far, claims to read the DM? Who are these 'said' posters you babble on about?

"I babble on about"  ??  I thought you were a RT reader, as well as a contributor.

If I were to agree with you, then we would clearly both be wrong.

No.. you'd be right.

In the normal course of events, no I wouldn't read the DM as a newspaper, but then you claim not to yourself, despite linking to it for an obvious pavlovian-type story. Latest link, a story of the youngest mum in the UK, which appears to be a story about 7 years old but presented as contemporary, and talks of the mum being 11 rather than her current age of about 19. The pregnancy was the result of a serious sexual assault within the family, not as originally reported

Never read it,   ..... saw the thread, and read comments, but never clicked onto the link, so didn't know the story as it was being portrayed, (the headline was enough to put me off  clicking onto the link) ergo: I didn't comment.

The Kinder moral compass

???

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