DB 6 - Running head DISCUSSION BOARD FORUM 6 Discussion Board Forum 6 Alana Piccone Liberty University Dr Obinna Olowu BUSI620 Global Economic

DB 6 - Running head DISCUSSION BOARD FORUM 6 Discussion...

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Running head: DISCUSSION BOARD FORUM 6 Discussion Board Forum 6 Alana Piccone Liberty University Dr. Obinna Olowu BUSI620: Global Economic Environment Do you think the interest on payday loans is too high or just right? Should Christians charge poor people interest on loans?
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DISCUSSION BOARD FORUM 6 2 Payday Loans The topic of loans is always a touchy or debatable topic due to the fact that someone is borrowing money that must be paid back; however, payday loans are even more contentious because of the ties the loan has to a particular paycheck. Consumer Finance (2017) explains payday loans as a loan that is “usually repaid in a single payment on the borrower’s next payday, or when income is received from another source such as a pension or Social Security” (para. 3). Lenders are aware of this direct effect on a person’s paycheck and therefore can increase interest prices to benefit themselves. There is a fine line between trying to make money as a lender and the exploitation of borrowers. Payday loans are short term and high risk; therefore, lenders feel
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  • Spring '13
  • GeorgeYoung
  • Discussion Board, BUSI 620

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