I thought John was gonna say to throw that brick through the payday loan office window. 😂😂 Totally misread that. Seriously though! My dad is an HVAC technician. Granted he's a supervisor but he still does side jobs and pulls in $100k easily. It's so easy to pull in quick money doing service calls as my dad calls it.
All he needs is to take out a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@@monsterous289 ... the funny thing is .. you think he can get a bank loan ... If he is in this deep ... no bank whatsoever is going to lend him money to pay this off ... I've been in his position ... any bank that I went to laughed at me ...
Sadly, some analysis has shown that teaching finance to kids at school has virtually no impact on them not making dumb decisions. Think of the kids you know who do what they shouldn’t (all of them).
Only people who have fallen into desperation go to a pay day lender. I was there when I was in my early 20’s. I was for a few months signing my entire paycheck over to them. And without a paycheck I had to borrow more money from them. It’s a horrible cycle. Learned my lesson big time.
Financial Literacy is part of the Texas educational curriculum and Ramsey is one of the approved curriculums. Most teenage brains don’t have the cause and effect and planning to truly understand compound interest working against you, delayed gratification, and not being able to out earn stupid decisions.
Probably a lot of smaller payments that add up every month; subscription services, going to the bar, stopping at a restaurant instead of cooking, maybe a few rounds of golf a month, etc. just guessing
He admitted he made mistakes and kicked himself harder then anyone could. He’s young and made mistakes. It’s why @2:08 Dr John gave him permission to let himself out of the shame prison to learn and go fwd. Dave has admitted many times to making mistakes and most of us have. I def paid stupid tax. We learn and do better.
@@leadnsteel1428 He’s young and made mistakes just like Dave and most of us. He knows it and why @2:08 Dr Johngives him a break so he can move fwd. Shame and guilt just keeps us stuck. We’re just human.
BRUH, get a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), you can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@@miketheyunggod2534 I do and have been for years 😴 This guy has no choice. He’s going to be working practically non-stop 12-16hr long days. His “hobbies” during those two years will be laundry, eating rice and beans. He will not have a life until his mess is cleaned up. From the sounds of it, he’s ready to do it. 💪
Thanks for being honest and sharing encouragment for this man! Everyone makes mistakes reguardless of how he got there! Going forward is how will he get out - and that is where you provided compassionate words of - you can do this and win! You are a winner Brad! Keep encouraging others🤗
All he needs is to take out a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@J Funk - He’s going to have to have his account balance in the black for a while first. He said his account was $400-something in the negative. Don’t think it’s going to be easy getting a loan approved with a negative balance.
The damage caused would be nothing compared to holding on to those loans for a year. The good news is he can file for bankruptcy on those type of loans.
I understand his situation. I just switched jobs and trying to get myself out of it. Hindsight is 20/20. Actually working this holiday to pay towards this debt. OT or 2nd job. The prices of everything now makes this mandatory.
You can do it! I worked a full time job and two side hustles with two kiddos under six years old! It was terrible but I got it done! I have no debt now and can sleep at night not doing math calculations in my head on how I’m going to pay for things! God Bless!
Thanks to you both, my debt was worse and I am frustrated that I put myself in that situation but even more determined to get myself out and STAY out. Can’t wait to to say I am debt free and encourage others as well. Thanks again!
Yikes! I knew someone who got into debt with a payday lender- pretty much had to skip eating for a week just to get out from under it. Got to get mad and get at it! Good luck!
Payday loans and car title loans should be ILLEGAL, you NEVER see those “lenders” advertising or even in business in low income neighborhoods. How those people who work there can sleep at night is beyond me. Of course they convince themselves that the people who sign up did it to themselves.
Nope, he needs a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@@Rashaadthegr8 walk into all sorts of random places these days - big box stores, fast food restaurants, etc - and there are Help Wanted signs on the door offering $15-17 starting wages.
@@unfairsanic5089 knowing his financial Decisions, he probably has an avg car with an outrageous interest rate thinking he had to take the first deal he sees
doesn't surprise me.....my cousin worked for four years in Guam earning about $125K a year. I asked him how bad his taxes were one year and he said he didn't owe taxes. I was like, HOW??? His answer I swear to God....."you don't pay income tax when you work outside of the United States." SMH I tried to convince him Guam was part of the US, and even if you worked in Vietnam, you pay taxes. Never believed me until he came home and filed taxes for that year, because "he was back in the States." Took 10 years to pay back the IRS.
I haven't owned or watched TV since 2001. Remember nothing but payday loans, injury lawyers, and adult for profit "colleges" back then during the weekday morning commercials. Haven't heard talk of payday loans in years and didn't know it was still a thing.
@@alinatamashevich3354 When I was in Great Lakes in '89 the big thing right outside the gate was the "film subscriptions" ... get a pretty girl to stand there in a skimpy outfit and sell you film and film developing subscriptions for $$$$, and don't worry, you can pay by allotment. Poor guys spent the entirety of a 4-year hitch paying for film and photo albums, only to be assigned to a ship in the yards with nothing to take pictures of but Pascagoula.
I’m guessing because of the area. I have a few friends who live in Kzoo and Thais rent is so cheap. Like 600 dollars a month for a 1000 sqft apartment to themselves cheap
Did I miss the part where the payday loan company forced him to take out the loan? Why didnt you guys ask him why he needed the money so urgently? I bet it wasnt for housing or food.
People use the term “victim to predatory loans,” these days. It’s totally possible that the lender lied but the Truth in Lending Act should bite them sooner rather than later
Sad to say, It's business, they don't care about you. The company's making money from you and their business are in good position not losing customers. You, have to have a plan not to fall into their trap. 🙁
Yeah those payday lenders are crooks. Work extra jobs to make that emergency fund come up so you don't have to borrow money from anybody especially them.
@@unfairsanic5089 you’re missing the point. This guy has a skill that he can do after work and on weekends. He doesn’t have to be an Uber driver, And he can clean up his mess much quicker.
@@spankynater4242 no sir you should think outside of the box. im giving the caller options if he cant make more out if his current job so he can pay if off the loan quicker.
@@unfairsanic5089 yes, you are missing the point. The point is he can make more money working overtime than Uber. Also he won't be decreasing the value of his own car.
@@russmonte7072 He’s an HVAC tech (a very in-demand job) yet has a -$445 bank balance and admitted that he made very poor decisions. You can do the math.
690%!?!?!?! I dropped off someone at a loan place to get a 200% payday loan a couple years ago & i thought THATwas ridiculous. he drove 12hours with low+old oil, didn’t even check the coolant & needed money for car smh Sadly The people that agree to these type of payday loans are desperate & these loan companies take advantage of that
I am all for Dave Ramsey's personalities scaring people by only discussing APR when talking about Payday Lenders. 690% divided by 52 weeks is 13.3% for a loan that lasts a week. 690% divided by 365 days is 1.89% for a loan that lasts a day. HOWEVER, lenders don't think about how long they would pay back the loan so everyday, every week, every month the loan's interests will get to that 690% for the year.
I'm glad I got my canceled within a day. I borrowed 500 dollars, not realizing I'm gonna be paying $3000 back!! Not worth it savings, see as much as you can guys. Work a second job, it's going to be worth it in the long run. Dude don't ever do this again
The sad part is those who get so desperate they are backed into a corner. The trick is just paying it off, struggle to do it, but kill that debt. And never do it again.
John: You nailed it. Shame is spiritually constipating this guy and is what's holding him back! Your suggestion? Although a mini, still a beautiful way to help him heal that shame that's crippling him.
Payday loans should be illegal! How do you borrow against a paycheck when you’re living paycheck to paycheck. How do they expect you to pay it back?!?!
I am in the same position. Have a loan with 160% apr. We are in totally upside down on the car and owe way more than it’s worth. Even the vet duped me and got me onto a program that is costing me $80/month. I want to do FPU but I stay broke and can’t afford anything right now. Our home internet has been shut off. Already deal with depression and this is compounding things.
There was an episode on American Greed about a payday loan guy he was making money hand over fist until the state attorney's office shut him down but all he did was start another one in another state.
payday loan lobby gives too much money to lawmakers to make this illegal. If people just stopped borrowing this crazy money, the payday loaners would go out of business by them selves, dont you think so, my friend taking back.
So wonderful that they keep deleting any comments they disagree at all with. Comments that are clean and not using bad language. Just saying. Let’s see how long this stays up. Anyway good luck to the caller. Some of the advice here was good, but they are leaving out other options that could be off more immediate help and deleting comments that suggest that it would seem.
The good news is it's only $1,100. The bad news is there is some underlying issue that caused it. He should sell all his belongings this weekend to get out of the checking hole and work OT.
Serious question, why doesn't a payday loan business that wants good publicity partner with Dave and help these people with small loans while also making a reasonable and fair profit off the %?
Those payday lenders know exactly what interest rates to use in order to lure in the youth: 420% and 690%
Subliminal message 😂
690...nice.
Haha
😐🙁🙁
lol 😂
690% interest should be illegal 🤬
Fr like holy fock
it is actually. in many states. The ones where its still legal need to take notes.
I thought John was gonna say to throw that brick through the payday loan office window. 😂😂
Totally misread that.
Seriously though! My dad is an HVAC technician. Granted he's a supervisor but he still does side jobs and pulls in $100k easily. It's so easy to pull in quick money doing service calls as my dad calls it.
Ha ha, lol! You were really getting into the emotional aspect of this caller's misery!
Agreed not to mention side hussle with good delivery apps that are out now.
No excuse He needs to clean that up asap
His time is so much more valuable as an hvac tech working OT and/or side jobs....
All he needs is to take out a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@@monsterous289 ... the funny thing is .. you think he can get a bank loan ... If he is in this deep ... no bank whatsoever is going to lend him money to pay this off ... I've been in his position ... any bank that I went to laughed at me ...
High Schools need to have a mandatory course on basic financing - 690% interest loan is beyond belief!!! Lesson Learned the hard way
Sadly, some analysis has shown that teaching finance to kids at school has virtually no impact on them not making dumb decisions. Think of the kids you know who do what they shouldn’t (all of them).
@@patty109109 the option should still be there
Only people who have fallen into desperation go to a pay day lender. I was there when I was in my early 20’s. I was for a few months signing my entire paycheck over to them. And without a paycheck I had to borrow more money from them. It’s a horrible cycle. Learned my lesson big time.
Financial Literacy is part of the Texas educational curriculum and Ramsey is one of the approved curriculums. Most teenage brains don’t have the cause and effect and planning to truly understand compound interest working against you, delayed gratification, and not being able to out earn stupid decisions.
@@freewifi7163 Has cost mi small fortune over the years.
When George asked "Can you work extra hours?" and he says "Yes I can", the response should have been "Why are you not doing that?"
A “ Payday “ loan is never the solution to anything ever…ever
Don't be ashamed Joseph, we make mistakes, just pull through it and don't do it ever again.
690% though
@@jayo3074 and I'm sure he didn't get kissed before he got ravished.
Would love to see a breakdown of this guy's finances.
Full send 24/7 then, oh yeah, bills..
Hahahhaa I’m there with you
Probably a lot of smaller payments that add up every month; subscription services, going to the bar, stopping at a restaurant instead of cooking, maybe a few rounds of golf a month, etc. just guessing
making 45k after taxes still living paycheck to paycheck unacceptable
Yup. Anyone can make it on a decent income you just have to manage the money and save a good amount
He admitted he made mistakes and kicked himself harder then anyone could. He’s young and made mistakes. It’s why @2:08 Dr John gave him permission to let himself out of the shame prison to learn and go fwd. Dave has admitted many times to making mistakes and most of us have. I def paid stupid tax. We learn and do better.
@@leadnsteel1428
He’s young and made mistakes just like Dave and most of us. He knows it and why @2:08 Dr Johngives him a break so he can move fwd. Shame and guilt just keeps us stuck. We’re just human.
Yup
He doesn't have an earning problem he has a spending problem
The overdrafts are what's killing him
The mafia doesn't have rates that high lol
Though they do take knees… so I donno?
Lol 😂
I was thinking the same
True but the mafia will kill you if you don't come up with the money..
😂🤣😂🤣
He needs to move to Florida and be on call 24/7 for the rental industry. People on Vacay, do not stay where the A/C is not working.
He should be working 12+ hours a day easy in that profession with the demand.
BRUH, get a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), you can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
You work 12+ hours a day.
@@miketheyunggod2534 I do and have been for years 😴
This guy has no choice. He’s going to be working practically non-stop 12-16hr long days. His “hobbies” during those two years will be laundry, eating rice and beans. He will not have a life until his mess is cleaned up.
From the sounds of it, he’s ready to do it. 💪
@@mikenelson8377 he only owes $1,100.
@@miketheyunggod2534 at 690% interest..
Been there, did that ONCE. You can win and you will. Best to you brother!
Thanks for being honest and sharing encouragment for this man!
Everyone makes mistakes reguardless of how he got there! Going forward is how will he get out - and that is where you provided compassionate words of - you can do this and win! You are a winner Brad! Keep encouraging others🤗
All he needs is to take out a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
@J Funk - He’s going to have to have his account balance in the black for a while first. He said his account was $400-something in the negative. Don’t think it’s going to be easy getting a loan approved with a negative balance.
I thought he was going to say throw the brick through the payday lenders window 🤭
I WOULD have said "throw the brick through the Payday lender's window" LOL
The damage caused would be nothing compared to holding on to those loans for a year. The good news is he can file for bankruptcy on those type of loans.
God bless him. I hope you makes it out of this! We are rooting for you!!
He's an HVAC tech. He should be able to make double that in a week.
Yep in my area, they can't find enough of them. He could work weekends and pay it off very quickly.
I have a few friends who live in the same city as him and I’ve never heard of such cheap rent prices so maybe it has to do with the place he lives
@@Gaingar good, then they should have money left to spend on HVAC repairs/upgrades.
Amen to that.
You can tell the bank not to allow you to overdraft.. that feature is usually optional.
You have to have monies to not overdraft, he doesn't sound like he has many of those. Also being late / defaulting on payments isn't any better
@@dontmindme7818 You change the account number and wait for the PDL place to harass you and then you settle.
it ain't like he's making 20k ... no excuse to live paycheck to paycheck. he buys lunch everyday and etc etc
I understand his situation. I just switched jobs and trying to get myself out of it. Hindsight is 20/20. Actually working this holiday to pay towards this debt. OT or 2nd job. The prices of everything now makes this mandatory.
You can do it! I worked a full time job and two side hustles with two kiddos under six years old! It was terrible but I got it done! I have no debt now and can sleep at night not doing math calculations in my head on how I’m going to pay for things! God Bless!
Thanks to you both, my debt was worse and I am frustrated that I put myself in that situation but even more determined to get myself out and STAY out. Can’t wait to to say I am debt free and encourage others as well. Thanks again!
@@shantereed we are cheering you on!! Keep us posted! ❤️👍❤️👍😎
Why would you ever take a loan with 690%?? Ever..
These predatory loans need to be outlawed! They're preying on the poor and disadvantage! THIS IS A CRIME!
I agree it's terrible. But he willingly signed up for that. No one put a gun to his head and forced him. Education is the answer here
Only if you cant read
It certainly should be illegal and I'm amazed it isn't
@@cathy7824 exactly where is personal accountability?
Chances of that brick hitting a fish dead smack in the face when thrown in the lake is 87.54%
Yikes! I knew someone who got into debt with a payday lender- pretty much had to skip eating for a week just to get out from under it. Got to get mad and get at it! Good luck!
Sounds like he's been sitting in the HVAC more than working in it! 🙄
Payday loans and car title loans should be ILLEGAL, you NEVER see those “lenders” advertising or even in business in low income neighborhoods. How those people who work there can sleep at night is beyond me. Of course they convince themselves that the people who sign up did it to themselves.
But they did in fact do it to themselves
Poor guy, when he gets out of this he will breath such a sigh of relief.
Payday loans never made any sense to me. If you can't pay your bills now, how are you going to pay them with a 600+% interest tacked on?
Soon many questions needed to be asked in that call...so many!
He needs to be delivering pizzas every night until this is gone
Nope, he needs a personal bank loan and pay this off. Even if it's somehow a crazy 50% APR (more likely 10-20%), he can actually fix this before Christmas. These guys are so against loans they won't even tell you the easiest, obvious choice.
Of course!!!
Forget delivering pizzas, walk into any random retail store and they’re hiring people at $15 an hour plus. Easy night cash.
@@adamseidel9780 What retail place is that none I ever worked at.
@@Rashaadthegr8 walk into all sorts of random places these days - big box stores, fast food restaurants, etc - and there are Help Wanted signs on the door offering $15-17 starting wages.
I’m a single man and make 53k a year and live very comfortably. This guy can certainly do that on 45k. He’s just very bad with money.
Still confused why people can’t figure this out on their own. He makes $45K. Where is the money going?!
Probably a fancy car
@@unfairsanic5089 knowing his financial Decisions, he probably has an avg car with an outrageous interest rate thinking he had to take the first deal he sees
@Jeffrey B child support? A lot of young people have kids. some even start having kids before they graduate high school
This call sounds like a nightmare!
Crazy thing is construction workers (who earn decent money) are this bad with their money.
I think it has a lot to do with the culture. My brother is in construction and almost all of his coworkers are broke due to terrible spending habits
doesn't surprise me.....my cousin worked for four years in Guam earning about $125K a year. I asked him how bad his taxes were one year and he said he didn't owe taxes. I was like, HOW??? His answer I swear to God....."you don't pay income tax when you work outside of the United States." SMH I tried to convince him Guam was part of the US, and even if you worked in Vietnam, you pay taxes. Never believed me until he came home and filed taxes for that year, because "he was back in the States." Took 10 years to pay back the IRS.
@@Gaingar They all have new pickup trucks don’t they?
I haven't owned or watched TV since 2001.
Remember nothing but payday loans, injury lawyers, and adult for profit "colleges" back then during the weekday morning commercials.
Haven't heard talk of payday loans in years and didn't know it was still a thing.
It is huge around military bases
@@alinatamashevich3354 When I was in Great Lakes in '89 the big thing right outside the gate was the "film subscriptions" ... get a pretty girl to stand there in a skimpy outfit and sell you film and film developing subscriptions for $$$$, and don't worry, you can pay by allotment. Poor guys spent the entirety of a 4-year hitch paying for film and photo albums, only to be assigned to a ship in the yards with nothing to take pictures of but Pascagoula.
How can you be in HVAC and only make 45k? My brother in law owns an HVAC company and the MINIMUM his guys get paid is $35 an hour. Many make over 100k
I’m guessing because of the area. I have a few friends who live in Kzoo and Thais rent is so cheap. Like 600 dollars a month for a 1000 sqft apartment to themselves cheap
He doesn’t only make 45k. His take home is 45k, so in reality he’s defo making 60k+
I wonder how this caller made out. I have a friend who is getting in deep on high-interest loans. It's so awful.
Did I miss the part where the payday loan company forced him to take out the loan? Why didnt you guys ask him why he needed the money so urgently? I bet it wasnt for housing or food.
People use the term “victim to predatory loans,” these days. It’s totally possible that the lender lied but the Truth in Lending Act should bite them sooner rather than later
Well the new Iphone came out
I am betting to pay another loan that was past due!
They did ask. But getting an extra job should’ve come before payday loan
Sad to say, It's business, they don't care about you. The company's making money from you and their business are in good position not losing customers. You, have to have a plan not to fall into their trap. 🙁
How is this even legal?
Why not?
How did he accept it? Was he dreaming? Do you want people to be able to make their own choices or not?
@@thecurious926 That meant that is is so unbelievable that it's that high.
Yeah those payday lenders are crooks. Work extra jobs to make that emergency fund come up so you don't have to borrow money from anybody especially them.
Geeze! He should have used a loan shark in the mafia.
they would have thrown him in the lake with his brick shoes
Joseph should be able to go to the Attorney General for his state!! How absolutely awful 😢
There is a ballot initiative to end payday loans in Michigan right now.
He still owes the money. He knew what he was signing up for.
Why? He chose to do it
If he signed then legally he agreed.
I do have sympathy but nobody held a gun to his head to sign up for it and he knew the terms he was agree to; he owes the money.
Why work as a dishwasher or uber driver when he can OT as an HVAC technician? Talk about stepping over dollars to chase pennies…
I did become an uber driver and payed my car faster now i dont have a car loan
No kidding, they got stuck on their script.
@@unfairsanic5089 you’re missing the point. This guy has a skill that he can do after work and on weekends. He doesn’t have to be an Uber driver, And he can clean up his mess much quicker.
@@spankynater4242 no sir you should think outside of the box. im giving the caller options if he cant make more out if his current job so he can pay if off the loan quicker.
@@unfairsanic5089 yes, you are missing the point. The point is he can make more money working overtime than Uber. Also he won't be decreasing the value of his own car.
You are living and spending way beyond your means.
He didn’t even mention any of his expenses lol. How did you draw this conclusion with no context😂
@@russmonte7072 Because he has high interest debt and a negative bank balance. I think it's safe to assume that he is spending more than he earns.
@@russmonte7072 anyone with basic thought process can figure it out without alot of context.
@@russmonte7072 He’s an HVAC tech (a very in-demand job) yet has a -$445 bank balance and admitted that he made very poor decisions. You can do the math.
690%!?!?!?! I dropped off someone at a loan place to get a 200% payday loan a couple years ago & i thought THATwas ridiculous. he drove 12hours with low+old oil, didn’t even check the coolant & needed money for car smh Sadly The people that agree to these type of payday loans are desperate & these loan companies take advantage of that
How is it legal?
He should NOT pay a penny
@@johndone8045 too late smh
I am all for Dave Ramsey's personalities scaring people by only discussing APR when talking about Payday Lenders. 690% divided by 52 weeks is 13.3% for a loan that lasts a week. 690% divided by 365 days is 1.89% for a loan that lasts a day. HOWEVER, lenders don't think about how long they would pay back the loan so everyday, every week, every month the loan's interests will get to that 690% for the year.
I know how bad payday loans are. I did a speech on payday loans in college. Plus, someone used to do payday loans long ago, and it did hurt.
“I’m sick and tired of being sick and tired” 🤯🤣🤣🤣💀💀💀
I'm glad I got my canceled within a day. I borrowed 500 dollars, not realizing I'm gonna be paying $3000 back!! Not worth it savings, see as much as you can guys. Work a second job, it's going to be worth it in the long run. Dude don't ever do this again
Rooting for this person
The sad part is those who get so desperate they are backed into a corner. The trick is just paying it off, struggle to do it, but kill that debt. And never do it again.
John: You nailed it. Shame is spiritually constipating this guy and is what's holding him back! Your suggestion? Although a mini, still a beautiful way to help him heal that shame that's crippling him.
Payday loans should be illegal! How do you borrow against a paycheck when you’re living paycheck to paycheck. How do they expect you to pay it back?!?!
690% and a 4:20 minute video. Nice.
The zoomers running this clips channel know what they're doing
Ha! You'd think Elon Musk was editing these videos
I am in the same position. Have a loan with 160% apr. We are in totally upside down on the car and owe way more than it’s worth. Even the vet duped me and got me onto a program that is costing me $80/month. I want to do FPU but I stay broke and can’t afford anything right now. Our home internet has been shut off. Already deal with depression and this is compounding things.
You could probably sell your car privately or to a dealership and get what you need to pay it off.
Scott, hang in there buddy. Try calling into the show and they might be able to send you through the class for free. We are all here for you.
There was an episode on American Greed about a payday loan guy he was making money hand over fist until the state attorney's office shut him down but all he did was start another one in another state.
I saw that episode, it was pretty good
Finance education should be part of school curriculums- teach them when their young. It will help them in life.
This should be against the law. The mafia gives better deals.
I got trapped in one years ago, illegally. They are also illegal in my state of NJ. Never go to them… NEVER…
I thought he was gonna tell the guy to smash the brick over his head
Who would’ve even went ahead with those insane numbers lol.
Oh boy change your identity right now then!! Don’t take out any more loans and move somewhere where no one will be looking for you!!
in Arizona we had law passed that outlawed payday loans but didn't outlaw title loan companies
Air conditioning companies are expensive. They charge customers a lot
they don't force you to take out a loan
This isn’t even legal. Get an attorney.
MOST STATES HAVE A 300 -350% MAX. RATE. WHICH IS STILL A BOA RATE.
He only owes $1,100 according to his own calculations and he nets $45k a year. Why will it take 24 months working every waking moment to pay that off?
He signed for that APR loans. Why would you ever sign for a 690% loan. Its his fault completely
I thought John was going to say throw the brick through the window of the payday lender...
Crazy how he blames the loan company like they did some illegal stuff… accountabilities
What he owes is nothing and needs to control his money better.
45k income with under 2 k pay day loan. Why is he even calling to ask what to do. Pay the dang thing.
When are people going to realize those places are scams !
How is it going to take 2 years to pay off $1100? Just work a part time job for 2 months and you've made at least triple that amount.
what do you mean "how can we help".
This should have been a 30 second video. "Don't. Do. This."
Don't buy a brick, find a rock.
45k after tax and he lives paycheck to paycheck? What the heck is spending his money on
The fact that, that interest rate even exists
And I thought anything above 40% was insanity.
Payday loans like this should be illegal, its crazy that they can run a business like this....
payday loan lobby gives too much money to lawmakers to make this illegal. If people just stopped borrowing this crazy money, the payday loaners would go out of business by them selves, dont you think so, my friend taking back.
Not even the IRS has interest rates this brutal
So tired of people like this. HE TOOK OUT THE LOANS! Nothing happened to him. He did it to himself.
That's tough...better get to installing some ACs/furnaces as a side hustle...
Had no clue these interest rates were even possible, how are they legal!???
They control the law makers.
That oughta be illegal
The only thing more egregious than loan rates is you signing for loan
I didn’t even know that was possible 🤦🏽
I don't understand how an HVAC tech is only pulling $45k a year. Something isn't adding up
HVAC techs make decent cash and they definitely are help wanted signs in Kalamazoo, Michigan… 🤔🤔
When he said my favorite meal for rice and beans hahaha.
690% ?!? “Thumb-break Vinnie” woulda cut you a better deal - wow!
So wonderful that they keep deleting any comments they disagree at all with. Comments that are clean and not using bad language. Just saying. Let’s see how long this stays up.
Anyway good luck to the caller. Some of the advice here was good, but they are leaving out other options that could be off more immediate help and deleting comments that suggest that it would seem.
Is it illegal if they didn't disclose this over the phone?
Jeezuz why would you sign onto that. For 1100 bucks?? Come on
The good news is it's only $1,100. The bad news is there is some underlying issue that caused it. He should sell all his belongings this weekend to get out of the checking hole and work OT.
if it is only $1100 and he delivers pizzas, he could have this paid in six weeks between pay and tips. Why did they say 24 months?
Very interested to see if Interest rate doesn’t matter if the interest is 690% ?
I thought there were laws against that high of a interest rate !!!!!
These interest rates are illegal in my state. "Ohio"
Serious question, why doesn't a payday loan business that wants good publicity partner with Dave and help these people with small loans while also making a reasonable and fair profit off the %?
Dave would NEVER have anything to do with a payday lender. He tells people to pay them off and never go in those places again .