Now There Are "Workplace Loans"...

We have a financial solution for millions of struggling Americans.  Imagine working 3-4 part-time jobs and STILL not getting by financially.  In a desperate attempt to stay afloat, more Americans than ever are turning to emergency loans, with high fees and interest.  Now a new twist has emerged on the scene...Dennis   

By Michael Snyder

I have written about the payday loan scam previously, but now a new twist on that scam has emerged.

They are being called “workplace loans”, and companies all over America are beginning to offer them as “benefits” to their workers.  But the effective annual percentage rate on these loans can be as high as 165 percent…

Arizona Restaurant Systems Inc., a Scottsdale, Ariz., company that operates 28 Sonic locations in the state, allows workers to take out loans ranging from $150 to $500 that typically last two weeks.

The fees, ranging from $8 to $25 plus interest, don’t go to the restaurant franchisee, but to a lender called Think Finance Inc., which makes the loans. Based on the fees, the loans carry an effective annual percentage rate of 100% to 165%.

Please don’t get trapped in any of those loans.  They simply are not worth it.

Unfortunately, this is just the start of our economic problems.  We are in the midst of a long-term economic decline that will soon greatly accelerate.

And despite relentless propaganda from the mainstream media about how “good” things are, most Americans are very pessimistic about where things are headed.  According to a survey conducted in December by the AP-NORC Center for Public Affairs Research, 54 percent of all Americans believe that life in America will “go downhill” as we approach 2050, and only 23 percent believe that life will improve during the next few decades.

Read the FULL article...amazing.