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So I've never done those payday loans before, but my bank offers them. You borrow against your next deposit, pay a fee, and allow the bank to make a profit off you. I've done it 3 or 4 times recently due to paycuts, the depletion of my savings, and a fee for late rent (urgh, post office lost my check). It's taken me a few times to catch up. I got a letter from them reminding me that it's "not meant to be an ongoing service." OK, so apparently they don't like it or think I should be doing it, but the agreement says one can use it 9 consecutive times before the account becomes ineligible. I have no problem with the rules, but the letter was condescending in it's tone, telling me financial counseling and credit products are available. I'm totally irritated at the tsk, tsk attitude on a service I'm allowed to make use of. I'm nowhere near the limit, and if they really have a problem with people using it that much, they can limit it to 2 times or something instead of talking down to us.
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um, actually, it sounds more or less sensible. Using payday laons for 3 or 4 months in succession is a warning sing that you might be in financial issues, hence the letter.
Put it this way, would you rather have a warning NOW, when the signs are looking like you may well hit the 9 month limit, or would you rather be taken by surprise when the facility is pulled? -
I understand why you would feel annoyed, since you obviously understand the terms of your account, but you can imagine the shit storm of complaints they'd get if they cut off that service without sending several letters.Originally posted by Food Lady View Post
No sense in taking things personally. A computer generated that letter. No one is thinking less of you.Comment
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I think I am taking it personally. It is just a computer-generated letter. I do have financial issues, which I obviously know. Thanks for the perspective, guys.Comment
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