Invitation to Borrow: It's a Trap for Financial Slavery
by Mogamahttp://mogama.info
In our endeavor to become debt-free, we paid off Personal Finance Company (PFC) on Monday, March 1, 2010. The payoff amount was $136.08. (One week prior the payoff amount was $130; so seven days had earned PFC another $6.)
When Miss Harriet picked up our mail on the same day we paid off the loan, there was a flashy flier in there from PFC, inviting us to, “Ask for up to $3,000” on a check-looking cut-out.
The debt solicitation went on, “We want to say YES to all your financial needs. We can have $3,000 waiting for you when you stop in today, and your first payment can be up to 45 days after your loan!*”
Bullet points followed to suggest a temptatious menu of how to use the new debt, and to emphasize just how easy borrowing this money was:
- Loans for any purpose
- Pay off bills, taxes or remodel
- Loans of all sizes
- Payments to fit your budget
- Phone applications are welcome
- Fast, friendly service
We have great credit. So during my credit addiction days, I would have been salivating at the “opportunity” to grab another three grand, based solely on our ability to make the monthly payment. But these days, I use the debt invitation as nothing more than a prompt for a new post at Debt Freedom Club. Finally, I'm growing up, I think. Pat...pat.
These days, I recognize the invitation to debt as the financial demon that it is. PFC is a slave master canvassing the vast slave market, desperately bidding on new slaves that can humbly serve him with monthly interest income. Sorry, Mr. Slave Master, this long-time slave is finding ways to steal away from your plantation. This slave has smelled freedom, and no amount of solicitation will get him to stay or come back to endure your beatings and bruises, no matter how innocent your pleas sound or seem.
Article submitted Monday, March 01, 2010 & read 108 times.
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