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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
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Location: Red State
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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
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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
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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, 13:29
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#5
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Quiet Professional
BrianH is offline
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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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Stand it like a man... and give some back.
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10-20-2006, 13:41
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#6
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Quiet Professional
The Reaper is offline
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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.
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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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#7
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Guerrilla Chief
Five-O is offline
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Location: Philadelphia
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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, 16:09
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#8
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Guerrilla Chief
mugwump is offline
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Location: PR of Illinois
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Quote:
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Originally Posted by Five-O
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. |
That's happening now, at least some places. I know a CSM who spends an inordinate amount of time educating his men about payday loan sharks and motorcycles -- the bane of his existence. He has as much success with one as the other -- namely, none.
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mugwump
“Klaatu barada nikto”
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10-20-2006, 16:12
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#9
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Quiet Professional
The Reaper is offline
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Quote:
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Originally Posted by mugwump
That's happening now, at least some places. I know a CSM who spends an inordinate amount of time educating his men about payday loan sharks and motorcycles -- the bane of his existence. He has as much success with one as the other -- namely, none.
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Nothing about mustaches, alcohol, and consorting with loose women?
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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10-20-2006, 16:18
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#10
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Asset
Joe-Boo is offline
Join Date: Jul 2006
Location: Kentucky
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Now imagine this issue with a large portion of Draftees.
I wait now only for the Democrats to blame the President and say SECDEF Rumsfeld should go. Then they will follow up with a scheme to turn Troops into victims for their own gain. Didn't we just go through this a few years ago with Troops on WIC subsities.
We can teach classes until we are blue in the face...young and "desperate" people will make stupid decisions.
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10-20-2006, 16:41
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#11
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Guerrilla Chief
Monsoon65 is offline
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Location: Harrisburg PA
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Quote:
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Originally Posted by The Reaper
Nothing about mustaches, alcohol, and consorting with loose women?
TR
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The kids in my section are pretty good. I don't have to worry about mustaches at all. They are always in trouble with alcohol and loose women, tho! And the only debt they have is their college loans!
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Loose Women ??? |
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10-20-2006, 18:16
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#12
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BANNED USER
82ndtrooper is offline
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Loose Women ???
Quote:
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Originally Posted by The Reaper
Nothing about mustaches, alcohol, and consorting with loose women?
TR
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What ? you mean there were "LOOSE" women around the base ? I missed that part of the experience 
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10-20-2006, 18:17
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#13
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Guerrilla Chief
aricbcool is offline
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Quote:
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Originally Posted by Monsoon65
They are always in trouble with alcohol and loose women, tho!
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Where's the trouble? The way my Dad used to talk about his cruises* in the 60s, alcohol and loose women were never a problem. 
--Aric
*Meaning Navy cruises. He served with the 7th Fleet "Tonkin Gulf Yacht Club". Thanks Dad.
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DPRK should be next...
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10-20-2006, 18:24
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#14
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Guerrilla Chief
mugwump is offline
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Quote:
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Originally Posted by The Reaper
Nothing about mustaches, alcohol, and consorting with loose women?
TR
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LOL
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mugwump
“Klaatu barada nikto”
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10-20-2006, 18:40
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#15
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Area Commander
Goggles Pizano is offline
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Location: Delaware
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Quote:
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Originally Posted by The Reaper
Nothing about mustaches, alcohol, and consorting with loose women?
TR
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A right of passage back in the day Sir as you know. I agree with Five-0 that the COC should school the kids. Hell if my parents had not shown me the way when I graduated high school I would have the same attitude my ex wife had about a checkbook (I have checks therefore I have money ).
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You ask; What is our policy? I will say; “It is to wage war, by sea, land and air, with all our might and with all the strength that God can give us: to wage war against a monstrous tyranny, never surpassed in the dark lamentable catalogue of human crime. That is our policy.” You ask; What is our aim? I can answer with one word: Victory—victory at all costs, victory in spite of all terror, victory however long and hard the road may be; for without victory there is no survival.-Winston Churchill
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