Quote:
Originally Posted by Rick Lee
Just not falling prey to their schemes would be far more effective and just. They'd disappear. What you call a predatory lender might be savior to someone else. And people with bad credit deserve higher rates and tougher terms because of the risk they pose to lenders and investors. The alternative is no credit at all except for the super credit-worthy.
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When I was 21 I screwed up and ran up a credit card to ~3k then lost my job and never payed. (It's settled now) but now I have no credit card's or any debt at all. I went and looked at a used Land Cruiser the other day asking 12k I offered to put down 5k and the best rate they could give me was 17% I was offended... I refuse to pay that kind of rate. So it costs 320 a month to take a taxi to work every day and you can ride a bike when its nice out. Thats why I hate these people. From my POV they just dry hole you till you bleed.