Here’s what I think about door-to-door loan solicitations

Here’s what I think about door-to-door loan solicitations
Eileen St. Pierre, The Everyday Financial Planner

A few weeks ago, this postcard was stuck in the crack in my front door:

loan postcard

First, look at the part I highlighted in yellow. These companies can no longer make loans to military service members and their families. As a military financial counselor, I’ve seen first hand the havoc these lenders have caused in the lives of our service members and families. I’m offended that these lenders have the nerve to then say they support our military. If they were allowed to still make these loans to service members, they would certainly do so with total disregard for the ability of service members to repay.

Second, if I needed money, I would not go to a company soliciting loans door-to-door. These loans are essentially payday loans. I’ve since ripped up this solicitation into many tiny pieces.

The front of this postcard says “Because your needs matter, borrow from someone you trust!” Your needs really do matter. You should borrow from someone you trust – just stay away from these guys.

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