If you are an employer, you see it every pay period. People that make a decent wage coming in with sob stories that their electricity is going to be turned off so they need a draw.
The amount of interest, fees, penalties and punitive interest rates people pay boggles the mind.
One of the most amazing ones is the "buy now, pay no interest for two years" promotions. Apparently, less than 20 % of the contracts get paid off according to the offer. The rest all miss a payment or are late, and are hit retro-actively with huge interest rates for the whole shebang.
People are financial babes in the woods.
