paycheck advance company's

Grand Island, Hastings, Kearney, DesMoines, and the rest of Nebraska and Iowa

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gisbuxfan
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paycheck advance company's

Post by gisbuxfan »

OK, so I haven't been in Grand Island too long, but since I have been here, I have seen several decent name restaurants close down, I few more open up, the construction and soon to be opening Hy Vee, a little residential growth. All great things for this town. But, the one thing I have serious issue with is all the freakin' paycheck advance places here!! From my house I can get to nearly 10 different locations to get a paycheck advance. Not only our we encouraging poor money management, but seriously how many of these places do we need! All I would ask for is to close down a few of them, turn them into some sort of useful retail or restaurant.
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Omababe
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Re: paycheck advance company's

Post by Omababe »

gisbuxfan wrote:But, the one thing I have serious issue with is all the freakin' paycheck advance places here!! From my house I can get to nearly 10 different locations to get a paycheck advance. Not only our we encouraging poor money management, but seriously how many of these places do we need!
Unfortunately these parasites germinate and multiply wherever there is a demand for them.
All I would ask for is to close down a few of them, turn them into some sort of useful retail or restaurant.
Several communities are trying to get rid of them, but few are successful. I know that North Las Vegas (a separate jurisdiction from Las Vegas proper) is trying to at least control the number of new ones that are popping up. In NLV it is particularly sad, since they prey on the lower-ranking Air Force people and get them into a credit trap that they simply cannot climb out of. :(

Oh well ...
almighty_tuna
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Re: paycheck advance company's

Post by almighty_tuna »

Omababe wrote:I know that North Las Vegas (a separate jurisdiction from Las Vegas proper) is trying to at least control the number of new ones that are popping up. In NLV it is particularly sad, since they prey on the lower-ranking Air Force people and get them into a credit trap that they simply cannot climb out of.
Offutt deals with those same woes.  Enough that the OWH did a feature on it.
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Brad
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Post by Brad »

I hate those places.  I think a bunch of them just changed hands too and have a different name.  I saw all the stupid inflatables and and flags and junk like that all over a bunch of them lately.  And they never seem to do anything to make the look nice.  Going to one of those places is like diving down the road with a stack of cash on your dash with all the windows down.  What a rip off.
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gisbuxfan
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Post by gisbuxfan »

I am pretty much in shock of the amount of these places popping up. I understand the amount in places like Omaha and Lincoln, but in Grand Island, we have a store for every 100 people here. That is ridiculous! I think the some of the local commercial landlords need to consider who they are leasing to rather than just trying to fill their space. Grand Island has been having some issues with filling dead space (ie. former Albertson's location, grand island mall, now former Sun Mart location just to name a few) It's time to find quality tenants and make something of the space.
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Omababe
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Post by Omababe »

gisbuxfan wrote:we have a store for every 100 people here. That is ridiculous!
Huh? Are you sure? Grand Island is what, 40,000 or so? That would make 400 payday loan storefronts! Is that a correct number?
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gisbuxfan
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Post by gisbuxfan »

Well, that was a little
bit of an embellishment..it just seems there are that many.
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Brad
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Post by Brad »

gisbuxfan wrote:Well, that was a little
bit of an embellishment..it just seems there are that many.
I know it seems like that sometimes.
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Swift
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Post by Swift »

These places should be outlawed under obscenity laws. Seriously.
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Coyote
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Post by Coyote »

Paycheck loan outlets are booming
Omaha World Herald wrote:In strip malls and on street corners across Nebraska, businesses with names like EZ Money and Cash in a Flash have sprouted like mushrooms. Not legally recognized in Nebraska until 1994, paycheck advance companies operating in the state have more than tripled — from 43 in 1998 to 137 as of Wednesday. Including branch offices, the state counts 218 locations in at least 30 cities from Ogallala, at 4,900 residents the smallest with such a business, to Omaha.

The Consumer Federation of America, citing reports from industry analysts, says payday loans nationally grew from $27 billion to $40 billion from 2002 to 2004. Payday loan stores grew from an estimated 15,000 locations to 22,000 locations in that same two-year period. Finance charges collected grew from an estimated $4.3 billion to $6 billion. Although the Consumer Federation has criticized the business as predatory, Nebraska industry representatives and State Banking Department officials say there appears to be substantial consumer demand.
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gisbuxfan
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Post by gisbuxfan »

interesting article....they're like a disease! Apparently spreading quicker than Staph!
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Coyote
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Post by Coyote »

OWH Poll:
Have you ever used a paycheck advance service?

•  Yes. (250)

•  No. (2108)
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Big E
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Post by Big E »

I spotted one at about 186th and Q this week (no, I'm not proud of being out there :;):).  It basically beat the residences and residents to the newly developed area.  

Does this say more about the housing market/economy or the type of development we're putting in this part of town?

-BigE
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Post by NDizona »

Big E wrote:I spotted one at about 186th and Q this week (no, I'm not proud of being out there :;):).  It basically beat the residences and residents to the newly developed area.  

Does this say more about the housing market/economy or the type of development we're putting in this part of town?

-BigE
Right here with you E

190th and Q

- Honestly - I never see anyone in that store.  I hope I never do.  Personally I hate the idea of getting rich off the poor but its Darwin...

People have a right to be as stupid as they want to be.
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gisbuxfan
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Post by gisbuxfan »

Just another reason why these places our a disease to our society....

http://abcnews.go.com/US/wireStory?id=4510847
Erik
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...

Post by Erik »

Don't worry, when i build my paychex advanced in Grand Island I will make it upscale..

It's going to include a starbucks like coffee-shop and you can get a loan up to the size of a whole mortgage!
And all that is required for payment is 10% payment 6 weeks later, and then a 10% deduction from each paycheck from
both spouses for each time they get a large loan..

Disclaimer: each 10% taken from a check will be 4% principle and 6% towards the payment.
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gisbuxfan
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Re: ...

Post by gisbuxfan »

Erik wrote:It's going to include a starbucks like coffee-shop and you can get a loan up to the size of a whole mortgage!
That is almost tempting...how about free refills?
Erik
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Re: ...

Post by Erik »

gisbuxfan wrote:
Erik wrote:It's going to include a starbucks like coffee-shop and you can get a loan up to the size of a whole mortgage!
That is almost tempting...how about free refills?



Of course, it is encouraged!

Heck, we will have free energy drinks also!
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