Cash Converts now BANNED!
Noodle
They have just banned CASH CONVERTERS and other Payday merchants:
http://au.ibtimes.com/articles/204176/20110826/govt-to-put-caps-on-payday-lending-charges.htm
Why do they do this?
Everything is clearly spelt out in a Contract that both parties sign.
Everyone knows the deal!
If you don't want to buy the product/service, then don't buy or use
it!
Now, this ban means that Centrelink customers who cannot get Personal
Loans from banks to pay their Rent, due to insufficient income/past
bad debts, & will be forced to live on the street! Is this a better
outcome?
Why is the Commonwealth Government controlling our lives like this?
Spartan613
news:8473e5cd-4bb8-4915...@14g2000prv.googlegroups.com...
**********
Because they're a bunch of socialist/communist arseholes who get off on
meddling in people's lives.
--
"Pain is nature's way of telling us to stop doing something".
Robert A. Heinlein.
Government Shill #2
What ban?
They haven't banned anything.
They have set a cap on the amount that the *merchant* can charge. If you borrow
$2,000 or less the most you will pay is 10% plus 2% per month for the life of
the loan.
No ban. A cap on the amount charged to borrow.
Shill #2
--
Some drink at the fountain of knowledge...others just gargle.
Sylvia Else
> Why is the Government *AGAIN* telling us how to live our lives?
>
> They have just banned CASH CONVERTERS and other Payday merchants:
>
> http://au.ibtimes.com/articles/204176/20110826/govt-to-put-caps-on-payday-lending-charges.htm
>
> Why do they do this?
>
> Everything is clearly spelt out in a Contract that both parties sign.
> Everyone knows the deal!
>
> If you don't want to buy the product/service, then don't buy or use
> it!
>
> Now, this ban means that Centrelink customers who cannot get Personal
> Loans from banks to pay their Rent, due to insufficient income/past
> outcome?
>
> Why is the Commonwealth Government controlling our lives like this?
If a person is using payday loans to cover their rent, then they're
already near the end financially, and being able to access such loans
wouldn't help.
Sylvia.
felix_unger
If they're paying less interest on the loans, then that is some help.
>
> Sylvia.
--
rgds,
Pete
=====
"Dumping the Gillard/Brown Government is the 'greatest moral imperative of our time'"
“We have a Prime Minister in hiding on this (Craig Thomson) issue, we have a member in protection, and we have a government in paralysis” - Tony Abbott
“Australia deserves much better than this sleazy, incompetent, disgraceful, Labor government. Bring on an election!”
"If the WORLD as a whole cut ALL emissions tomorrow, the average temperature of the planet's not going to drop for several hundred years, perhaps over on thousand years" - Tim Flannery, Climate Commissioner
"It is a remarkable fact that despite the worldwide expenditure of perhaps US$50 billion since 1990, and the efforts of tens of thousands of scientists worldwide, no human climate signal has yet been detected that is distinct from natural variation." - Bob Carter, Research Professor of Geology, James Cook University, Townsville
“Julia Gillard's carbon dioxide tax is the most brazen fraud to be perpetrated by an Australian government. Warming believers should be outraged that the tax is so useless. Sceptics should be outraged it's so pointless. It offends the intelligence of everyone and threatens the jobs of thousands. For nothing!” - Andrew Bolt
"Currently, China and India combined emit 20 times as much as Australia each day, and that factor is increasing rapidly. Australia's annual savings by 2020 could be emitted by China and India within five days" - Dr. David Evans former Govt Climate Adviser.
“What I see is a country bravely beating along to the agenda of some ideological people, in this case the socialist left of the ALP and the Greens, to take away what is a natural advantage. Most of the abatement is premised on the fact that we will buy permits from someone else. What happens at the end of the day, is that we are paying someone else to use our coal” - Peter Costello, former Federal Treasurer - http://tinyurl.com/costello-carbon-tax
"Julia finally got something right. Older people don't vote Labor, because they have seen too many incompetent, mismanaging, money-wasting Labor governments"
“It's impossible to quantify how totally, mindlessly, and absolutely stupid Gillard's Labor government has become. Anyone who continues to back this totally corrupt government which has NO MANDATE for any carbon tax is equally a moron”
“Cut the baby bonus after two children. The ferals are over-breeding and causing havoc in our society” - a school teacher
The Working with Children check is a joke! .. http://tinyurl.com/insane-vcat
felix_unger
> On Wed, 31 Aug 2011 22:44:50 -0700 (PDT), Noodle<noo...@spam.la> wrote:
>
>> Why is the Government *AGAIN* telling us how to live our lives?
>>
>> They have just banned CASH CONVERTERS and other Payday merchants:
>>
>> http://au.ibtimes.com/articles/204176/20110826/govt-to-put-caps-on-payday-lending-charges.htm
>>
>> Why do they do this?
>>
>> Everything is clearly spelt out in a Contract that both parties sign.
>> Everyone knows the deal!
>>
>> If you don't want to buy the product/service, then don't buy or use
>> it!
>>
>> Now, this ban means that Centrelink customers who cannot get Personal
>> Loans from banks to pay their Rent, due to insufficient income/past
>> bad debts,& will be forced to live on the street! Is this a better
>> outcome?
>>
>> Why is the Commonwealth Government controlling our lives like this?
> What ban?
>
> They haven't banned anything.
>
> They have set a cap on the amount that the *merchant* can charge. If you borrow
> $2,000 or less the most you will pay is 10% plus 2% per month for the life of
> the loan.
>
> No ban. A cap on the amount charged to borrow.
>
> Shill #2
> --
> Some drink at the fountain of knowledge...others just gargle.
And some can't even find it.
Sylvia Else
> On 01-September-2011 6:27 PM, Sylvia Else wrote:
>
>> On 1/09/2011 3:44 PM, Noodle wrote:
>>> Why is the Government *AGAIN* telling us how to live our lives?
>>>
>>> They have just banned CASH CONVERTERS and other Payday merchants:
>>>
>>> http://au.ibtimes.com/articles/204176/20110826/govt-to-put-caps-on-payday-lending-charges.htm
>>>
>>>
>>> Why do they do this?
>>>
>>> Everything is clearly spelt out in a Contract that both parties sign.
>>> Everyone knows the deal!
>>>
>>> If you don't want to buy the product/service, then don't buy or use
>>> it!
>>>
>>> Now, this ban means that Centrelink customers who cannot get Personal
>>> Loans from banks to pay their Rent, due to insufficient income/past
>>> bad debts,& will be forced to live on the street! Is this a better
>>> outcome?
>>>
>>> Why is the Commonwealth Government controlling our lives like this?
>>
>> If a person is using payday loans to cover their rent, then they're
>> already near the end financially, and being able to access such loans
>> wouldn't help.
>
> If they're paying less interest on the loans, then that is some help.
I think Noodle's concern is that the legislative changes will mean that
in practice such loans will no longer be available. This may indeed be
the case, if the competition between lenders meant that the interest
rates previously charged properly reflected the risk that the loans
would not be repaid.
But as far as paying rent is concerned, this would just force the person
to face up to their financial reality a bit sooner than otherwise. Using
payday loans for such purposes is like trying to squeeze every last bit
of toothpaste out of the tube.
Sylvia.