Response to "The Poverty Business"

I feel it is sad how banks and lenders target vulnerable people or the less fortunate. What I have learned from this article is a majority of banks and lenders are out to get you for your money and keep you under the table with debt which leads to a perpetual cycle of debt. Banks and lenders in so many cases are a debt trap; they don't tell the person the interest rate they have signed their selves into. In the article woman named Roxanne Tsosie she bought a car totally on credit thinking she will only be paying $150 dollar monthly installments & agreed to pay 7,922 not knowing the interest rate was sky high 24.9%. Leading her to cancellation of the contract them getting the car back & them doing the same thing to someone else. Another case is the blue hippo case,Mr. Humphries broke his computer seen a blue hippo ad on TV called the number the lady on the phone signed him up for a new laptop. Blue hippo would debit his account for $124, & then would owe 17 payments of 71.98 dollars every other week. After a week from placing his order he realized that he would pay 1,347.66 Over nine months. Mr. Humphries called to cancel his order the first time he called they said it would be an additional 10 days to cancel. Then he called a second time they said 15 days. He talked to a phone rep the phone rep told him that blue hippo has a no refund policy meaning he lost 124 dollars and didn't get a computer. Situations like these make me feel bad because the banker/lender makes the contract sound so good if u haven't looked at it & understood what your reading putting people in financial strains & perpetual cycles of debt, I feel that in some cases the person might not have had the resources to understand what the contract was saying and many banks/lenders take advantage of people that don't know. These banks/lenders need to be put out of business Ephemeral and make way for the honest bankers & i fill banks should be made just for people to save money with no interest this is my response to "The Poverty Business" thank you for taking the time to read my blog.