+ - Another example of how the fed's programs can be hijacked . . .->
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rickyslashdot
rickyslashdot (2870609) writes "These types of short-term loans are generally predatory in nature — by design !
They 'capture' a chunk of the Social Security disbursements by allowing / coaxing SS recipients to continue roll-overs & consolidate into new loans (even more expensive).
Each 'catch' can lead to profits of thou$and$ of dollars annually, and can last for several years of 'negative-sum' leaching of Social Security funds — - -
UNTIL the SS debtor collapses, leading to forfeiture and seizure of everything they own !
In just about every situation I can imagine, the final seizure PROBABLY exceeds tha original debt(s)
and (also) PROBABLY by a $ub$tantial amount . . ."
Link to Original Source
They 'capture' a chunk of the Social Security disbursements by allowing / coaxing SS recipients to continue roll-overs & consolidate into new loans (even more expensive).
Each 'catch' can lead to profits of thou$and$ of dollars annually, and can last for several years of 'negative-sum' leaching of Social Security funds — - -
UNTIL the SS debtor collapses, leading to forfeiture and seizure of everything they own !
In just about every situation I can imagine, the final seizure PROBABLY exceeds tha original debt(s)
and (also) PROBABLY by a $ub$tantial amount . . ."
Link to Original Source