I cannot understand the concept with these companies. You can tap a few keys on your phone and supposedly have $250 or $500 dollars in seconds. The two commercials I see the most are one a scenario of a young man buying groceries when he is short $28 dollars. A woman in line behind him suggests he get an app for instant money. He taps his phone and has the money instantly to get his groceries. The other commercial is a man shopping for groceries and baby diapers. He doesn’t find the diapers, but does find his favorite brand of cereal. He goes home and his wife asks, “where’s the diapers?” He says, “I couldn’t find them.” She says, “we have to have them! I’m getting the ---- app, which she does instantly.” She then says, "I'm going to get the diapers.” He says, “hurry back” as he stands holding an infant in his arms. She says, “I don’t know, because diapers are so hard to find.”
Now in both scenarios, there people are broke, no money at all until they get the app. I know that banks are always ready to make loans to people who have money, but not to people who do not have money.
How, I wonder, will these instant cash online companies plan on getting their instant loan money paid back? Something smells fishy to me. There has to be more than meets the eye with this.
Once Joyce, Annie and I had our car breakdown in Arizona. The repair shop wanted cash up front to make the repair. I had traveler’s checks, but they weren’t buying that; they wanted actual cash. I had to go down the street to a bank to get cash. The bank wanted to call our bank in Missouri to ensure that the traveler's checks were real and not forged. They did call our bank and they charged me $5 to make the call before taking the checks. No instant cash money there.
On that same trip, we got to Coronado, California and when I called to find out when our few belongings would arrive, the moving company said the truck would deliver that day and I had to have cash in hand or they would not unload, but they would take our things to a storage company and that would cost us even more. I had some U.S. savings bonds with me, so I went down the street to find a bank to cash in the bonds. The first bank would not cash them for me because all the identification I had was a Missouri driver’s license and back then there was no picture on the driver’s license. I went to another bank and got the same reply. I went to another and the same thing happened there. On the fourth try, a kind woman teller there pulled out a sheet of paper that had the requirements to cash a bond. Besides a driver’s license, there were several other things that would work. She went through the list and it was no, no, no, until she said “a DD214 would do.” A DD214 is an honorable discharge from military service. I said I have that in my suitcase and I’ll be back in a few minutes. I raced back to the apartment we were going to rent, got my DD214 and went back to the bank. I got the cash; I got back to the apartment as the moving guy was finishing the delivery. I handed him the cash and we were in the apartment. Joyce had written a check for the first and last month's rent and a security deposit and at that point we were officially broke with no job and no way to get through another month. It was time to hustle and find a job if we wanted to have food and a place to stay.
Now you know why I wonder what the deal is with the instant over the phone, lenders. I must be out of touch with the world we live in these days.
No comments:
Post a Comment