[BITList] 800% loans anyone?

[HUGH]

I see these "Pay Loan, Cash a Cheque" places everywhere here, but there are also Credit Unions run by local people. These give low interest loans based on how much credit one has deposited, basically on one's history with the Union. I've also noted a rise in the number of garish Pawn Shops, so those and such as those are indeed cashing in on the lack of money, which is probably a paradox.

Firms used to run schemes whereby a sum was retained from wages, redeemable at Christmas and the Fair (summer holidays).  The interest was given to charity.  The Odense Staalskibsvaerft, where I worked 1965-67, would retain up to 20% of the salary, not necessarily for festive reasons, and, as far as I recall, the interest was added to the sum retained when paying out.  When I heard the bungalow, No 13 Sprogovej, was vacant, I got details from Hr Lykke, the housing manager (the yard owned the houses), who said a 2,000 Dkr deposit would be required.  The yard cashier, without blinking, handed me 2,000 Dkr and took it off my salary in monthly instalments - no interest charged  Times have changed.

Jimmy Watt, Purser on Chakdara, would meet any request for money against wages with an expression of pain, then dole out a pittance with prophecies of financial doom for we fivers, were we to continue our profligate spending of rupees.  Consequently, and as my pay slips show, I always paid off with at least enough to pay the train fare home on leave.

Hugh.
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