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I just got through watching the documentary "Maxed Out". This should be required viewing for every American, and especially those struggling with debt, like so many of us on this site. I highly reccomend it. It is available on Netflix for instant viewing or DVD rental.

While the focus is mainly on credit card companies, it is excellent, and yet very sobering - which is a good thing. I'm hoping someone will do a lengthy and in depth investigative documentary on the PDL industry someday, and also spends a great deal of time on the issue of internet PDL's who continually thumb their noses at the new state laws that have been passed, limiting the interest rates they can legally charge. Maybe they can make a field trip to that Indian Reservation in Miami, Oklahoma where some of them hide out, or to England and India where some hide offshore to escape US laws or extort vulnerable consumers. It's long overdue...




Two organizations have worked together to investigate, study and issue reports on payday lenders and lending trends.

responsiblelending.org/issues/payday/

demos.org/page44.cfm

I removed the www (dot) so the URLs wouldn't turn into links, so you might need to add that back as you copy/paste them into your browser's address bar.

I've read through these studies and a few others and they are very informative... sheds a some light on the reality of this issue.

Sub: #1 posted on Wed, 08/06/2008 - 12:11

jjanney jjanney

(Posts: 53 | Credits: 8.7)

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