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Just imagine the horror if this came true!

Date: Wed, 08/22/2007 - 08:48

Submitted by goudah2424
on Wed, 08/22/2007 - 08:48

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Total Replies: 14

Just imagine the horror if this came true!


Will Wal-Mart Provide Payday Loans in the Future?
It seems like you can get almost anything under the sun at Wal-Mart. The mass merchandiser is the place to go for everything, from hot dog buns to bathing suits to power tools and some marigold plants for the garden! There are those who believe that there will come a day when Wal-Mart offers payday loans. The company, based in Bentonville, Arkansas, already offers a host of financial services to its many customers. So far, fast cash loans aren’t on the slate, but many stores offer money orders, check cashing, and cash transfer services like Western Union.

Near the beginning of the year, Wal-Mart applied for a license to take up short-term lending. Payday loans were never the target of such a license; the Walton family was intending to take part in more traditional short-term personal loans, such as the type that could be obtained from a bank or credit union. The application was turned down, however. It is believed that will not deter Wal-Mart, however.

Obviously, Wal-Mart’s low prices are a draw to the kind of customers that historically take out payday loans. There are many who believe that fast cash loans would be a good fit for the company. Then, of course, there are those who believe that the addition of fast cash loans would only expand the alleged monopoly that the mass merchandiser has over lower-income America. Right now, any association between the company and cash advance loans is only the stuff of rumors. It remains to be seen whether or not anything will come of all the hearsay.


Oh no! I hope that never, ever comes to pass. EVERYONE goes to Wal-Mart. Imagine the opportunity they would have to suck in millions upon millions of people. And what better place to do it?? If you are running short on cash, rather than sticking to a budget and waiting on an unnessessary item, just get a short-term cash advance and get it today!!! And then it will start...


lrhall41

Submitted by eleroo on Wed, 08/22/2007 - 09:10

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It would not suprise me, they already stand at the door and try to convince you to get a Wal-Mart Credit card. Every time I go in there they bother me...I can not even imagine if they started this. In my very small town there are already 8 store front companies we do not need another. Wal Mart has built a "realtionship" with people and I think people would be more apt to take out a loan becuase it is Wal Mart...the company they have bought groceries and clothes from, where they get their tires done or oil changed, where they know the pharmacist and the garden employee, where they get their eyes examined, their hair cut and do their other banking... If Wal Mart is endorsing it it can't be all bad.... I sincerely hope this forever remains a rumor.


lrhall41

Submitted by RoxyNY on Wed, 08/22/2007 - 09:41

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Pay day loans at Walmart? I think I'd laugh my ass off! How incredibly hilarious would that be? I'm trying to take the stance that this will never happen. However, can you see it now? At least I'd know where to go to file my complaints and give them my letters revoking their debit authorization! Oh, and I'll hand them a letter stating I revoke any wage assignment also. Do I have to stand in the Customer Service line to do this? Crazy!


lrhall41

Submitted by cannr on Wed, 08/22/2007 - 19:14

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Oh no, that would not be good at all! I tell you, Wal-Mart is not what it use to be when I worked that many many moons ago. AT that time, Sam Walton was still alive and the store tried very hard to keep what he was trying to do alive. Now they don't have layaway any more (which I used a lot during the holidays or if needed a larger purchase), they are taking out the sewing and crafts dept, you can never find anyone to help you, it is just going downhill, like K-Mart did. It is really a shame and if they did that, well, I think it would just be one more nail in their coffin.


lrhall41

Submitted by 2nband on Fri, 08/24/2007 - 09:02

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I spent forever during Christmas time in the electronics department waiting for some assistance to get a video game in the locked cabinet. Needless to say they lost out on my purchase that day.

And how can they be taking out the craft department and thinking about adding a loan department? That is insane. Whenever I go to Wal-Mart I come out feeling like a horrible person for supporting them. But when you need something cheap and you don't expect for it to last, its the place to go.

My friend worked for them, and she got fired for allegedly selling cigarettes to a minor, never mind the fact that they didn't even check the cashier ID on the purchase, and it was in fact the old woman who couldn't see very well who allowed that purchase, and the judge yelled at the officer who sent in the minor on the sting operation. She of course could not get her job back, and they made no apologies what-so-ever. So instead she worked for McDonalds.....

Now imagine that, McDonalds taking over the payday loan business.... That would be even more scary!


lrhall41

Submitted by pokogeo on Wed, 08/29/2007 - 15:00

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