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Troops With Debt Seen as Security Risks, Barred From Overseas Duty |
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10-20-2006, 04:55
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#1
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Quiet Professional
BMT is offline
Join Date: Jan 2004
Location: Red State
Posts: 3,121
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Troops With Debt Seen as Security Risks, Barred From Overseas Duty
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Don't mess with old farts...age and treachery will always overcome youth and skill! Bullshit and brilliance only come with age and experience.
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Pay Day lenders |
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10-20-2006, 12:11
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#2
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BANNED USER
82ndtrooper is offline
Join Date: Aug 2006
Posts: 1,188
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Pay Day lenders
Pay day lenders seem to be the worst !! I've heard that they are charging as much as 120% on money loaned forward of their pay day checks. How does one get that paid down exactly without getting their credit score hacked down to a 300 ???
When I was active duty I admit to hokking the TV a couple of times just to have enough drinking money for the weekends, but I only made that mistake a couple of times. I still have that television today in my sons rooms  It still works and remote still works. That was from 1985
What would the top brass expect now ?? For the senior NCO"s to start being "DEPT GATE KEEPERS" for all the enlisted folk. Seems they have enough on their plate without getting into the mess of over seeing their subordinate soldiers financial lives.
Last edited by 82ndtrooper; 10-20-2006 at 12:16.
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10-20-2006, 12:43
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#3
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Quiet Professional
The Reaper is offline
Join Date: Jan 2004
Location: Free Pineland
Posts: 20,466
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Quote:
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Originally Posted by 82ndtrooper
Pay day lenders seem to be the worst !! I've heard that they are charging as much as 120% on money loaned forward of their pay day checks. How does one get that paid down exactly without getting their credit score hacked down to a 300 ???
When I was active duty I admit to hokking the TV a couple of times just to have enough drinking money for the weekends, but I only made that mistake a couple of times. I still have that television today in my sons rooms It still works and remote still works. That was from 1985
What would the top brass expect now ?? For the senior NCO"s to start being "DEPT GATE KEEPERS" for all the enlisted folk. Seems they have enough on their plate without getting into the mess of over seeing their subordinate soldiers financial lives. |
Not quite.
The payday check to check lenders and title lenders just off Ft Bragg were charging in excess of 300%. IIRC, the cap was 330% per year.
I remember that the State Legislature was working to cut that, but was being fought by a lobbying group with plenty of (shock! ) money.
These people are leeches and need to be tarred, feathered, and run out of town on a rail.
TR
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"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910
De Oppresso Liber 01/20/2017
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Good God ! |
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10-20-2006, 13:27
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#4
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BANNED USER
82ndtrooper is offline
Join Date: Aug 2006
Posts: 1,188
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Good God !
Quote:
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Originally Posted by The Reaper
Not quite.
The payday check to check lenders and title lenders just off Ft Bragg were charging in excess of 300%. IIRC, the cap was 330% per year.
I remember that the State Legislature was working to cut that, but was being fought by a lobbying group with plenty of (shock! ) money.
These people are leeches and need to be tarred, feathered, and run out of town on a rail.
TR |
300% ?? Good God !! How do these "Shock Money" people sleep at night ? 
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10-20-2006, 13:41
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#5
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Quiet Professional
The Reaper is offline
Join Date: Jan 2004
Location: Free Pineland
Posts: 20,466
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Quote:
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Originally Posted by 82ndtrooper
300% ?? Good God !! How do these "Shock Money" people sleep at night ? |
Apparently in a mansion, with silk sheets on a very expensive mattress, after a dinner prepared by their chef with the approporiate French wine, and a bath drawn by the butler.
Quote:
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Originally Posted by BrianH
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Looks to me like he could have made more of an impact by introducting birth control.
TR
__________________
"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910
De Oppresso Liber 01/20/2017
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Taking care of soldiers |
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10-20-2006, 15:16
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#6
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Guerrilla Chief
Five-O is offline
Join Date: Mar 2006
Location: Philadelphia
Posts: 500
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Taking care of soldiers
All the above being said...and IMHO correct, some of the responsibility falls on the soldiers chain of command. TL, SL, PSG, PL, 1SG, XO and CO. At some level the CoC needs to give blocks on finacial fitness. We all know that many of these young soldiers are earning "decent" (  ) money for the first time and have no concept how credit works or how to manage a check book. Leaders on major installations need to warn these young soldiers that these money grubbing near criminals are out there and ensure soldiers stay clear. Now that it is a readiness indicator it is incumbant to have a policy in place to thwart these sharks and educate soldiers.
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It is perserverance which distinguishes the strong from the weak.
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10-20-2006, 13:29
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#7
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Quiet Professional
BrianH is offline
Join Date: Jul 2004
Location: Angel Gate
Posts: 299
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The inventor of the payday loan, Muhammed Yumus, was awarded the Nobel Prize. Whatever happened to that award?
http://www.impactlab.com/modules.php...print&sid=9512
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Pain, or damage, don't end the world. Or despair. Or fucking beatin's. The world ends when you're dead. Until then, you got more punishment in store.
Stand it like a man... and give some back.
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