If you're thinking of getting one of those payday loans where you borrow a few hundred bucks to be paid within a week or two, think again. You'd be better off selling a kidney. Apparently, the fees and interest rates are so high that many people get into a vicious cycle of borrowing to repay the first loan. I always thought interest rates of greater than 30% or so were illegal, but it seems I've been wrong all along. Some of these places charge as much as 800% per annum!
One poor woman who borrowed $500 spent the next year trying to extricate herself and in the process paid over $6,000 in interest and fees!
Just thought I'd pass on the warning.
Showing posts with label payday. Show all posts
Showing posts with label payday. Show all posts
Tuesday 3 March 2009
Monday 22 September 2008
At the track
I went to my local thoroughbred racing track this past Saturday. I had my usual luck when betting a horse trained by one of the better trainers there. For one reason or another, I have lost every bet save for one that I have ever made on his horses. I always seem to bet the right horse at the wrong time. Horses with proven records never seem to win when I bet on them.
Anyway, on this occasion, a new way was found for the horse I bet on to lose. The horse started out fine around the middle of the pack. By about one third of the length of the race, he had worked himself up to first. Suddenly he pulled up very quickly and went out of camera range, all the horses advancing well past him--not a good sign. A thought popped into my mind of how appropriate the horse's name was given these circumstances--Payday Peril.
At that point I got up from my chair where I had been watching the race on a big-screen monitor and went outside to see what the matter was. Somehow, the horse had managed to make his way almost a half mile further along the track and was right in front of me where I exited the grandstand. I thought maybe there was hope for the horse since he had gone that far after sustaining whatever ailed him.
He was surrounded by 5-6 people, including his trainer which I recognized. While a couple of men consoled the horse, a couple more were checking out his front legs. My view was slightly obstructed, so I couldn't see exactly what was going on. Just then, the horse reared up and then immediately laid down and suddenly there was no movement. I tried as best I could to look for any signs of breathing. I could not detect any. The horse was very eerily still and I concluded they had euthanized him.
It broke my heart. It made me realize how insignificant my wager on this horse was. This horse who had worked his heart out in perhaps ten races or more, having won three of his last six, including his last two, had earned a small fortune for his connections and had the promise of even more success. I can only hope that he had received the affection and fine treatment he deserved.
They placed a large screen between the horse and onlookers (too late, I thought) and prepared to load the poor creature into the horse ambulance. I retreated back to my seat and remarked to those sitting near me "I think they euthanized that horse". My comment was greeted with stone silence of indifference.
Anyone who has ever entered a horse racing establishment would have immediately noticed how unsavoury many of the patrons are. They are loud, boisterous, rowdy, unkempt, of poor breeding and generally lack proper hygiene. But that day, I found yet another adjective to add to the list: heartless.
Late that night, I googled the horse's name and to my surprise and dismay, I couldn't find a single item relating to the horse's death (or less likely, his condition). I even checked the race track's own website to no avail. The fine career and promise of this horse, and his painful and sad passing had gone by without so much as a footnote.
As I was writing this today, Monday, I checked again for an item on the horse and am glad to see that a few sentences were written in a blog by Jennifer Morrison to mark the gelding's life and death. Jennifer Morrison is the track odds-maker. Kudos to her. The horse racing sport needs more like her.
Here is Jen's blog.
Anyway, on this occasion, a new way was found for the horse I bet on to lose. The horse started out fine around the middle of the pack. By about one third of the length of the race, he had worked himself up to first. Suddenly he pulled up very quickly and went out of camera range, all the horses advancing well past him--not a good sign. A thought popped into my mind of how appropriate the horse's name was given these circumstances--Payday Peril.
At that point I got up from my chair where I had been watching the race on a big-screen monitor and went outside to see what the matter was. Somehow, the horse had managed to make his way almost a half mile further along the track and was right in front of me where I exited the grandstand. I thought maybe there was hope for the horse since he had gone that far after sustaining whatever ailed him.
He was surrounded by 5-6 people, including his trainer which I recognized. While a couple of men consoled the horse, a couple more were checking out his front legs. My view was slightly obstructed, so I couldn't see exactly what was going on. Just then, the horse reared up and then immediately laid down and suddenly there was no movement. I tried as best I could to look for any signs of breathing. I could not detect any. The horse was very eerily still and I concluded they had euthanized him.
It broke my heart. It made me realize how insignificant my wager on this horse was. This horse who had worked his heart out in perhaps ten races or more, having won three of his last six, including his last two, had earned a small fortune for his connections and had the promise of even more success. I can only hope that he had received the affection and fine treatment he deserved.
They placed a large screen between the horse and onlookers (too late, I thought) and prepared to load the poor creature into the horse ambulance. I retreated back to my seat and remarked to those sitting near me "I think they euthanized that horse". My comment was greeted with stone silence of indifference.
Anyone who has ever entered a horse racing establishment would have immediately noticed how unsavoury many of the patrons are. They are loud, boisterous, rowdy, unkempt, of poor breeding and generally lack proper hygiene. But that day, I found yet another adjective to add to the list: heartless.
Late that night, I googled the horse's name and to my surprise and dismay, I couldn't find a single item relating to the horse's death (or less likely, his condition). I even checked the race track's own website to no avail. The fine career and promise of this horse, and his painful and sad passing had gone by without so much as a footnote.
As I was writing this today, Monday, I checked again for an item on the horse and am glad to see that a few sentences were written in a blog by Jennifer Morrison to mark the gelding's life and death. Jennifer Morrison is the track odds-maker. Kudos to her. The horse racing sport needs more like her.
Here is Jen's blog.
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