Poll

1 vote (5.26%)
6 votes (31.57%)
12 votes (63.15%)

19 members have voted

teddys
teddys
Joined: Nov 14, 2009
  • Threads: 150
  • Posts: 5444
November 13th, 2015 at 12:37:13 PM permalink
Quote: Kentry

About Payday Loans, a commercial for Western Sky claimed that they could get you $5,000 in your checking account the next day, and admitted the money was expensive(the APR is roughly 131% :O, but claimed it was cheaper than a Payday Loan.) A $5,000 loan equals to roughly $40,000. Oh my God. :O. The Payday Loan place near me is only $30 more than than the loan amount, how is that worse than paying $35,000 more than the loan amount? By the way, Western Sky has changed its name twice since airing the commercial that aired just a few years ago. What a huge red flag.

Western Sky got busted by the State. They are no longer operating. But there are still Indian Reservation lenders. It not the tribe, usually, it's an outside company who comes onto the tribe's land and sets up an office. For example, I just got a solicitation from the Lac Vieux Desert Band of Lake Superior Chippewa Indians in Watersmeet, MI. They also have a casino up there in the Upper Peninsula. The loan was for $1,500, and I believe the repayment schedule they outlined was a $20,000 total payback. Totally criminal.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
waasnoday
waasnoday
Joined: Jan 13, 2015
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November 13th, 2015 at 1:33:12 PM permalink
The tribes should never have dabbled in this pay day lending debacle. I worry that this type of business relationship threatens tribal sovereignty. This is not what sovereignty was meant for and it is a travesty that it is abused in such a manner. I think you may see some of these places going out of business over the next few years due to them not only screwing over the borrower but also the tribes whose shield of sovereignty they are hiding behind. In some cases it is not the tribe who is benefiting but only a couple members who have lent out their names in a token manner to establish tribal ownership or provided an address on reservation land for the business. Sorry for the rant but as a tribal member this stuff sicken me.
GWAE
GWAE
Joined: Sep 20, 2013
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November 13th, 2015 at 2:41:59 PM permalink
They have been around for many years. I doubt they would all of a sudden start to care. Especially since the ftc now has warnings all over the place.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
TwoFeathersATL
TwoFeathersATL
Joined: May 22, 2013
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November 13th, 2015 at 3:05:46 PM permalink
Quote: GWAE

They have been around for many years. I doubt they would all of a sudden start to care. Especially since the ftc now has warnings all over the place.


Crooks will be crooks.
In some jurisdictions it's always open season, if done quietly.
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
AxelWolf
AxelWolf
Joined: Oct 10, 2012
  • Threads: 151
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November 13th, 2015 at 3:20:51 PM permalink
Quote: GWAE

I have no regrets. If not for the failing business I would have not met my wife and not had 2 great"ish" kids.

Code for I would've been care free, living in Vegas and partying with strippers.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
GWAE
GWAE
Joined: Sep 20, 2013
  • Threads: 93
  • Posts: 9854
November 13th, 2015 at 5:20:38 PM permalink
Quote: AxelWolf

Code for I would've been care free, living in Vegas and partying with strippers.



Can't confirm nor deny if that would have been the plan. I can say that I hope that is my dream tonight instead of being chased by the mob.
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW

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