Why is it that I can drive through any predominately black neighborhood in this country and find at least 10 payday loan places within a 2 block radius? These companies aggressively advertise on black radio with catchy jingles to get the attention of folks who are in need of financial assistance. (singing) "Get your titke back at Title Max". Sounds corny bit it's working. Lately I've noticed brand new buildings popping up everywhere. Some even have with drive thru windows that have decided to stay open 24 hours "to better serve you". Many offer loans with no credit check and delay your payment for 30 days all to get you in the door and once you're in the door,they smile a give you material about how they're their to help you "get through these hard times".Unfortunately,many people fall victim to these(financial)death traps because they've lost their jobs and fallen behind on their bills. And then there are some who get a payday loan because they want extra money to buy clothes or get some rims-(that's another blog).I call them (financial)death traps because one loan place will set up next to another and another right next to that one and then there's one across the street and before you get to the traffic light,there's another one. What happens then is when you can't pay one of them back on time,you go to one of the others to get the money and pretty soon,you're trapped.But that's the whole point of payday loans. It's not set up to help YOU. It's set up to help THEM make money. Where else could you get a loan for $500 and end up paying back $2000 or more? It's a big hustle!
But you know what,I really don't fault the payday loans. No,I fault our local officials who allow it to happen. The neighborhood presidents, city council members, Mayors.....I fault them. THEY have the authority to limit how many can be placed in a certain area. THEY are the ones who can say NO-you're NOT putting another payday loan HERE. Build a center that allows people to get info on how to better take care of their finances. Build a McDonald's where kids can work. Build something constructive but you WILL NOT build another payday loan in THIS neighborhood under my watch.
Please challenge your local officials to stop the madness. Also,if you're one of the people trapped in this vicious cycle,just know there are plenty of people who has been where you are and got out of the trap. It took a minute and some sacrifices but they did get out. But first YOU have to decide that this is not how you're going to live. YOU have to say,I'm better than this robbing Peter to pay Paul mentality.YOU have to finally say,I will not be a modern day slave. Because that's exactly what it is.......MODERN DAY SLAVERY! I'm not speaking for a third party,I'm speaking for myself. I've been in that trap before and it's no fun.
I originally wrote this blog back in January.I updated it and posted it again because as I told you last week,The Board Room is about to go in a different direction. We are about to start taking back our communities,our streets,our children and controlling our own destiny.
In other words,The Board Room is about to go to the next level.
I hope you're ready!!!
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ReplyDeleteI couldn't agree with you more bro! These places are like drug dealers they post up in areas where people are most addicted to superficiality. Our people are addicted to superficiality. There’s a big difference in wanting to be successful and handling your business than just wanting money to satisfy a desire for superficial things. The ironic thing is most people that go to those places are not those who seriously need the money any way, most of them have jobs but because of their superficial appetite and addiction they have mismanage their hard earned money to satisfy their addiction to superficiality, ostentation, flamboyance, glitziness, showiness, and egotism. Very few of these people are going to tell their elected officials to stop these places from cropping up in their neighborhood. That's like a drug addict telling a drug dealer to leave the neighborhood; it'll never gonna happen until the addicts themselves change. If we don’t brake this cycle then we will only give birth to sons and daughters who are addicted to superficiality. I was once addicted to superficiality but the means to satisfy my addiction was through credit cards_ just another big time drug dealer in the hood. Great blog bro.
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