So-Called Consumer Champion Targets Predatory Credit Card, Payday Loan Lenders
By J.J. CameronPayday Loan Writer
Not everyone is taken the pressing consumer debt problems in the country sitting down.
Ok, well, Scott Tucker may be sitting down when he aims his wrath at payday advance lenders - but he's doing it in front of his website, fromdebttosavings.com.
Tucker is aware that Americans today owe well over $2 trillion in debt - yes, that's trillion and, yes, the figure is constantly on the rise. Tucker believes not enough is being done about credit card and faxless payday loan providers.
He says fiscal problems are" because of the cynical and unfair practices of unscrupulous lenders, which are for the most part the banks and credit card companies … Credit companies make the most of their profits from so- called 'bad-debt' or 'high-risk' debtors - the lower your credit score the more they treat you as a risk, unfairly discriminating against you by assuming you will not keep up with your payments."
Tucker's stance reveals an alarming development that should concern all Americans, while uncovering a hidden dark side to these lending institutions.
Yet what makes the situation even more disturbing is the fact that these cynical practices target the people who can least afford to pay, and draws them unwittingly even deeper into a downward spiral of debt. That's the main critique of no fax payday loans across the boad.
"This," said Tucker, "is something that affects all Americans everywhere, because it's what's driving us to recession. It's not your fault if you fell for the lies and deceit of these 'fat cats.' And the quicker we get out of the cash-flow crunch, the quicker we'll help ourselves as individuals and get the wider economy back on track."
Tucker said he put together his website "to give the blameless victims of the predatory lenders a fighting chance to break free of debt."
It's an admirable goal. Of course, some cash loan lenders really do help the poor. So it's important to make a distinction.
