That's a fair point. The next question is "What do better options look like, and how do we get there?"

High interest-rate loans are one thing. Forcing payment for the company's lawyer is another. Broad-spectrum mailing of loan offers with (what looks like) no assessment of ability to pay is quite another still.[1]

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[1] Or even worse, selecting for people who they know can't pay immediately, so they can rack up the margins/fees. That would be one of the typical definitions of "predatory."