Every year, more than 12 million Americans spend $17 billion on payday loans, despite the fact research has shown these costly lines of credit often leave borrowers worse off. Yet abusive lending practices are not relegated to borrowers in need of a couple hundred dollars to stay afloat until their next paycheck; there are mortgages, car loans, and other traditional lines of credit that can leave the borrower in a bind. Even if you never find yourself on the wrong end of a predatory loan, these products can still be a drain on your entire community. [More]
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Abusive Lending Practices Can Lead To Negative Long-Term Consequences For Borrowers, Communities
By 6.16.15
IKEA Wouldn't Sell Me One Of The Many Desks I Saw In Plain View
By 2.4.10
Brian says IKEA wouldn’t sell him one of the desks he wanted because it was “sold out,” despite the fact that he could look around and see a bunch of his desired desks stacked near the customer service area. The reason: A customer service dude told him they only restock at night and Brian would have to come back tomorrow. [More]
AMEX Surprises Traveler By Canceling Card Without Warning
By 1.21.09
It looks like American Express is still in the throes of its “risk management” craziness and closing accounts without visible reason. Did Chris, who was just left stranded while on a business trip, shop at the wrong store? Did he fail an internal financial review that nobody told him about? Whatever the reason, it’s a good example of why you should have more than one credit account when traveling, so you don’t have to rely on the whims of any single faceless corporation.
