Santa protests predatory loan business

Thank you Santa for having the guts to do this.

This is the most entertaining, heartening news I've read all day. We need 1,000 more actions like this. :)

You aren't a Cacaphony Society member are you?

At the company Christmas party a Santa and 3 elves crashed the dance floor a couple of times, they were pretty drunk. Good stuff.

These legal corporate loan sharks have put my student friend into a cycle of debt and despair. The interest on these loans is higher than the old school mafia legbreakers, instead of sticks these legal goons use collection agencies and garnished wages. They are so rude, insulting and aggressive over the phone i became so upset that i thought would end up in jail for assault (or worse). This would only encourage them, so i kept my cool. Their tactics of harrassment are beyond threats and instigation..

These bloodthirsty greedy goons give true sharks of the sea who kill for survival a bad name. Truly a low point for humanity when legal loan sharks get away with taking advantage of people in dire economic circumstances..

i love reading indymedia. stories like this aren't anywhere else. and it's always better to hear someone tell it themselves, rather than reading someone else's account where you need to read between the lines. thanks, jeff! for acting, and for posting!

Kudos! Wish I'd seen you. I did see another santa suit down the street at another loan shark around 30th and powell, exhorting people to use their service. Bad Santa!
I wish all the good santas in portland would do this to every one of those miserable bloodsuckers who've made powell their home.

always much love for indy media keeping up...

yeah they're sharks yet people paddle out with hooked fishy food from their pocket books. your "student friend" got them self in debt. "old school" mafia (sicilia) had their place, keeping in line the peasants and landowners, collecting what was owed them, the land and landless! are they bloodthirsty, yep, this is business though, don't take it personal.

as the system has injected itself into the movement so the movement may want to inject itself into the system. take it over from the inside, like lovely ravaging your lover, live love.

It's great you did this. Rapid Cash took over from Dunkin Donuts. Accross 39th is another cash store in the minimall next to Supercuts. Not enough for you? Then stroll on down to about 34th and Powell where you'll find another. If if those three don't fit your style, there's a huge one on the corner of 33rd and Powell. And if that's not enough, there are two across from each other up Powell around 60th or so.

That's four within walking distance of my house and another two only a short jaunt away. I guess job growth is coming to Powell finally......

I think it would be a great idea to write the interest rate that they charge on the protest sign. Many do not know, but these companys charge an insane interest rate, well over 100%. Call and see exactly what it is. Sadly, people who obtain these loans are too imcompetant to understand little things such as interest. So in short, hold up a huge protest sign that says, "ONLY 300% interest, what a deal".
Good luck, if I was not so far away, I would be in line with you.
peace
TheDirtRoadWarrior

I'm not trying to plug one credit union over another, but I did notice that the community chartered credit unions are starting to try and educate people about Payday Loans and offer cheap alternatives to them to their members. For example Unitus Community Credit Union (open to anyone who lives or works in Multnomah, Washington, Clackamas, Marion, Polk, or Yamhill counties) started offering REAL payday loans to Members December 15th. I've copied their newsletter announcement below:

So bottom line is join a credit union and never use a payday loan store like this lame outfit!

 http://www.unitusccu.com/

From:
 http://www.unitusccu.com/media/Doc1/December%202004%20Connections.pdf

Need A Payday Loan? Here's a better way!

Need money before payday arrives? Payday loan companies typically charge exorbitant rates—some exceed
1,000% APR!—and can snare you in a vicious cycle of borrowing more to pay what you still owe. Starting December 15 the affordable alternative is an advance loan from Unitus:
•Borrow from $50 to $500
•No credit check*
•No application fee
•Fixed interest rate
•Easy repayment
•One simple application
•Helps rebuild credit
•Free seminar offered on "Understanding
Your Credit"

You must apply in person for your first advance loan. Bring these items
to any Unitus office:
•Recent pay stub or other evidence of income
•Current utility bill showing your full name and current address
•Photo identification
•Name, address, and phone number of a personal reference

Just say no to payday loans! Head to your nearest Unitus office for relief!

I got hit by an obnoxious payday loan company when I was in my early 20's. Picked up a quick $150 and payed $600 across the next 7-8 months. What a nightmare! Good job Santa and the fact that you got an extra $100 for your efforts really made my day!

SANTA YOU ROCK!!!

USURY IS A HIGH CRIME.

thank you, lone-santa activist!

happy holidays!

I just had to thank you for this. I've been meaning to do something about that awful business and I'm so glad to hear about your protest. It just makes me sad when I think about that the family owned Dunkin Doughnuts that use to be there has turned into that diguesting joke of a business.

....thank you for telling people the truth about these parasites.

I'm a bankruptcy attorney, and a number of my clients have been victimized by these companies. There's no way to escape from a cycle of debt with interest rates as high as 600%, and state regulators have not been able to regulate these companies.

It's up to regular people to dissuade people from taking out these loans by telling the truth about the usurious interest rates charged, and about how these stores are a blight on the community.

I even covered up the payday/title loan ad on my new phone book with a sticker - it now says, "Payday and Title Loans (Are a Fucking Ripoff)".