Posts Tagged “
disability
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Payday Lenders Convince Elderly To Assign Social Security Checks To Them, Hand Back Allowances
This writer is quickly growing convinced that payday lenders are the modern version of indentured servitude, trapping consumers in cycles of debt that simply cannot be broken in their lifetimes. The Wall Street Journal published a story last week about payday lenders who make loans to the elderly and effectively take over their Social Security or disability payments, handing back whatever remains after they take their cut. Though it sounds like it should be illegal, payday loan companies are partnering with banks to pull this off.More »









