This has got to be the most screwed up story we’ve heard yet about Steve Beshear’s most beloved industry: payday loan sharks.
No only are payday loan sharks financially raping the poor – not only are they fighting to prevent reasonable interest rate caps – but they’re falsely imprisoning those who cannot pay on time.
Take a look for yourself:
Upon his return to Lexington, Watkins went to the Check Advance store on Friday, March 23, and informed the store manager, Angela Jackson, that he could not repay his loan on that day, but that he would be able to do so three days later, on Monday, March 26. Jackson insisted that Watkins had to repay the entire amount that day and stated that he was not leaving the premises until he had paid in full. Jackson pushed a button to lock the office door and would not allow Watkins to leave even though he repeatedly asked to do so.
Jackson telephoned her regional manager, Mary Depue, and told her that “I have a black guy over here that refuses to pay his bill and he’s not going to leave until he does.” Watkins then spoke to Depue and told her that he had always repaid his loans on prior occasions, that he had to make his automobile loan payment that day, and that he would repay Check Advance in full on Monday, March 26. Depue then spoke to Jackson again. Jackson stated, “He’s going to pay his bill or he’s not leaving . . . I want my money now!”
Watkins attempted to leave the office, but Jackson again refused to unlock the door, stating, “You ain’t going nowhere until you pay me my money.” Watkins again tried to leave, pushing on the office door. He told Jackson if she did not allow him to leave, he would call the police. In response, she shouted, “I don’t
care who you call, you are not going until you pay me my money.” Watkins finally persuaded Jackson to allow him to use the office telephone to call a friend to bring the money to repay the loan. Watkins instead called 911 and asked for the police, telling the dispatcher that he was being held against his will at the Check Advance store.
Mind boggling, isn’t it? Read the entire story for yourself. Somewhat startling that the media hasn’t yet picked up on this story.
Now, in case you were wondering why payday loan sharks aren’t just taking advantage of the poor but are able to do things like, you know, hold customers against their will? Let’s take a trip down memory lane:

That’s right. People like Governor Steve Beshear are responsible. And people like House Speaker Greg Stumbo, despite protestations against the Governor in 2007, have done jack shiz to change business as usual here in the Commonwealth.





1 response so far ↓
1 Amy Shir // Sep 19, 2009 at 1:11 pm
The Kentucky Coalition for Responsible Lending is working hard to spring the debt trap in which payday loan victims find themselves. We are working with the Governor and the legislature to cap interest rates on all payday loans issued in KY at 36%. DOD got Congress to approve this interest rate on all payday loans targeted at our nation’s military families. KCRL believes that if 36% works for military families, let’s make it work for Kentucky’s families as well.
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