Satire can be cruel, but not as cruel a debt-sprial costing the most vulnerable hundreds or thousands of dollars of available fees and interest.
Predatory Lending Association Superb.
(If you need a loan, try a credit union.)
Writing about Universalist Christianity and improving how churches work
Excellent satire!
In my state some limits have been placed on the number of dollars that can be borrowed through pay-day lending. But as soon as this law went into effect, the lenders came out with a new product to “help populations needing financial assistance”. They are called automobile title loans. You go in, and get a loan (at absurdly high interest rates often above 25%) using the title on your car as collateral. If you miss 2 payments, the car gets repossesed. How you get to your low wage job after that is your problem.
I live in a neighborhood that has over 40% of the population living below the poverty line. On a regular basis, I get junk-mail flyers advertising these title loans, with the most recent one having the header “Help Your Family Have Happy Holidays”.