From the time loans
have started to exist, it became controversial and until now though controversy
and wrong notion about loans have somehow lessen, still there are some who
viewed it as glaring.
Loans, payday loans in
particular are considered to be improper by some people because of the fact
that these loans take advantage of them who have not much background about
finances and those who are less knowledgeable with financial issues. Usually
loan targets are mostly the youth market or the not so well-oft class of
people.
I believe the reason
why some people view loan business in a glaring perspective because of the way
the loan business advertise or promote their product.
The several loan
business promotional advertisements, although true and not fabricated that they
can provide borrowers an instant cash is what seems to be the conflict. The
advertisement is really tempting. Though this is the very nature of every
business, to attract customers through whatever way, loan business however has
not provided complete details of how their business fully works.
In short,
inconsistency in the implementation of their standard protocol. This will lead
to someone to think negatively towards payday loans and loans itself in
general.
As a matter of fact,
since these loans are also found on the web, the best thing these loans could
do is to provide full details of their loan rates and fees on their sites.
Another thing is, they should provide proper, accurate and appropriate protocol
or rules in availing their loans. They should not try to encourage the youth to
get the loan because they have a more chance of being irresponsible of their
financial status.
The loan business must
be consistent in its scope such as, who are qualified and able to avail loans.
These things, I believe, make payday loans seem to be shrewd, taking advantage
with people. Thus, they should make necessary response to this conflict.
However, on the
contrary, payday loans have positive view of things and payday lenders have
also some nice post. If we come to think and realize about the positivity of
payday loans, these are the only loans that are willing to extend help to
people who are in dire need of money and no one will entertain them, only
payday loans.
No comments:
Post a Comment