Pensioners are taken advantage of by usurers

[Samuel77]

It is true the interest rate sometimes is too high for the pensioner. you are not supposed to blame the government, you are supposed to blame the agency that issue out the loan

 

[Akinwale701]

In the news is the warning to pensioners not to use their pension in taking a loan. The usurer would lend them 1,000 to be paid in 6 monthly installments of 200 for a total of 1,200 which means the total payment is 1,200. The lender would take hold of the pensioner's ATM card so that the lender can withdraw the monthly installment by himself. Many pensioners are falling for that trap of borrowing with their pension as payment for the installment. The interest that was paid is like stealing the money of the pensioner.

Exactly, they are being taken for granted even by government here. It's either the money isn't paid on time or the person in charge used it for something else.

 

[Sariana23]

I'm a pensioner but I am at the point in my life where my debts are paid off and the last thing I would want is a loan. If anything I find that being older gives me more perks like a free bus pass and reduced rates in certain stores.

These are benefits that should be taken advantage of, in my country you also have conciderations with the elderly. They are benefits that help pensioners and that my mother enjoys every time she goes shopping or runs errands.

 

[Victor72]

I see this as a very bad corruption in the country and I suggest the government should do something about this because my uncle has experienced such problem before

 

[Spicywilfred]

Well as for me I see nothing wrong with that because every loan is eligible to interest, no one will give out loan without asking for interest. so you collecting loan of 1000 and paying back 1200 is normal with every organisation.

 

[Richard92]

I'm a pensioner but I am at the point in my life where my debts are paid off and the last thing I would want is a loan. If anything I find that being older gives me more perks like a free bus pass and reduced rates in certain stores.

I agree with you but one has to do what he has to do in order for them to survive you as a senior who is being taken advantage of may be wise enough to start up a business that will assist your life.

 

[Trexxxy]

This is really bad, I think something should be done to curb this illegality. However, pensioners need to be self-aware of these wolves in sheep clothing.

 

[Sprite1950]

The thing about pensioners is they often spend far less than when they were young. My mum was 90 when she died, she had reduced rates in most things and all she spent out on was food and a few luxuries. She said she had never been so well off but it had come too late for her.

 

[Saqibraza]

Usury's true spirit is based on gaining an unfair and irrational advantage. The changing face of legislative regulation in the area of usury laws.

 

[Chibson]

This is very true especially in some countries. There are some countries where pensioner are being taken care of and does not get exploited by the usurers.

 

[Richard92]

This is very true especially in some countries. There are some countries where pensioner are being taken care of and does not get exploited by the usurers.

I agree with you every country has their own different pension scheme and the way they treat their retiree but over here most times, over here's pensioner been taken advantage of by usurer

 

[nimzy]

That is really a well coming advice to the pensioners of this days who are thinking of taking loan from any organisation or person expected to pay with interest in return. if I will advise the taking of loans by pensioners Is never a good decision but due to the economic situation they have no choice of action than to adopt.

 

[Richard92]

That is really a well coming advice to the pensioners of this days who are thinking of taking loan from any organisation or person expected to pay with interest in return. if I will advise the taking of loans by pensioners Is never a good decision but due to the economic situation they have no choice of action than to adopt.

yes most especially as they taken advantage of by users because they have been delayed most times and they are not paid pension after they have worked and save their money for this.

 

[Bookwormlux]

Definitely, that's stealing. It's an onus on young people to educate their elderly parents about things like this so they don't fall for them out of ignorance.

 

[Richard92]

Definitely, that's stealing. It's an onus on young people to educate their elderly parents about things like this so they don't fall for them out of ignorance.

Most of the time pensioner has been taken advantage of by users, because most of them do not know the procedures or how the system operate and because of this the users take advantage of them which is wrong.

 

[Shigobad2020]

In the news is the warning to pensioners not to use their pension in taking a loan. The usurer would lend them 1,000 to be paid in 6 monthly installments of 200 for a total of 1,200 which means the total payment is 1,200. The lender would take hold of the pensioner's ATM card so that the lender can withdraw the monthly installment by himself. Many pensioners are falling for that trap of borrowing with their pension as payment for the installment. The interest that was paid is like stealing the money of the pensioner.

Most of the pensioners are really suffering, imagine waiting for the givernment to pay them their gratuity for years and they will even went to get a loan, and the lender will still be stealing their money by imposing high return rate.

 

[Bookwormlux]

Most of the pensioners are really suffering, imagine waiting for the givernment to pay them their gratuity for years and they will even went to get a loan, and the lender will still be stealing their money by imposing high return rate.

It is usually due to ignorance and you would not want to blame them since they are not always updated about trends like this.

 

[Richard92]

It is usually due to ignorance and you would not want to blame them since they are not always updated about trends like this.

Most pensioners are not that educated and do not know how the pension scheme operates because of this the pension scheme take advantage of them and which is not right.

 

[Josemendez]

In the news is the warning to pensioners not to use their pension in taking a loan. The usurer would lend them 1,000 to be paid in 6 monthly installments of 200 for a total of 1,200 which means the total payment is 1,200. The lender would take hold of the pensioner's ATM card so that the lender can withdraw the monthly installment by himself. Many pensioners are falling for that trap of borrowing with their pension as payment for the installment. The interest that was paid is like stealing the money of the pensioner.

I have never liked anything borrowing. The interest rate is quite outrageous on most cases and I wonder if I will ever want to do such a thing . I do rather manage my pension

 

[joy101]

The choice is left for them if actually the pensioner if them want to take their pension to take loan, because is depends to them do whatever them want to do with pension.