Every grandfather or grandmother dreams of being able to enjoy grandchildren more often and to be able to afford gifts for their holidays. Everyone would prefer to be able to cope with unforeseen expenses and payments, not to rely on children who “have their own care”.For this reason, many retired people choose to continue to work or find new jobs that are right for them. Not everyone has the ability to do it, of course. And what was the retirement age for if someone had to work for life, and not because he liked it, but because he had to survive?
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Are payday loans eligible for the elderly?
Elderly people have the right to retain their dignity and access to credit products can help them in certain cases. You do not want to borrow a loan from your child or grandson to … buy him a birthday gift for example. You may not always have the number of reviews or medications, which sometimes also has a three-digit number per month.
Unfortunately, many credit institutions have put a number of restrictions in this respect, which is somewhat understandable. These are related to the loan amount, the collateral requirement and even the age of the borrower. Easier lending opportunities are offered by fast-paced companies. They are tailored to the limited opportunities of the elderly and are much more accessible. In this way, pensioners can also finance their daily or urgent needs.Еlderly people are often victims of fraud and abuse. Click To Tweet
So today’s news is for the 82-year-old Harold Able. Able is a veteran, discharged from the United States Army in 1957. Take a look at his unjust fate told by www.kshb.com.
Elderly veteran facing eviction after being targeted by loan sharks
KANSAS CITY, Mo. — We know taking advantage of the elderly’s money is morally wrong, but in one man’s case, is it illegal? What can someone do when alleged loan sharks are eliciting money from the elderly? 41 Action News called several agencies, but no one seemed to be able to help 82-year-old Harold Able.
“I think I’m 82. I think so. Sometimes I wonder!” Able said while eating his only meal of the day: meatloaf, au gratin potatoes and corn with bread and a doughnut.
Able is on a fixed income. He brings home around $1,000 a month in social security and retirement checks. He says he started lending out money to random passersby and borrowing money from two men to get him through the month. These two men hang around the outside of Crossline Towers, Able says. Able says the men charged high-interest rates on the small loans. Pretty soon the loans got out of control and he got behind on his rent. When asked how much the total amount of the loan was, Able responded, “Up to the thousand dollars.”
“Rent is $333 a month. So how is he five months in the rears now with no money and still owing people money? That’s kind of the question. So you know he’s being taken advantage of,” Jae Edgar Bennett with Street Medicine KC said. Bennett told 41 Action News about Able’s situation after meeting him at one of Street Medicine’s mobile health clinics. A nurse detected early signs of dementia, which troubled Bennett even more.Bennett said he called the Area Agency of Aging to report abuse and hasn’t heard back from anyone. He took Able to the Kansas City, Kansas Police Department, but says they were turned away.
“I shouldn’t have gotten it started. They didn’t put a gun on me and force me,” Able said. True to his generation, though, Able insists the blame falls on him.
Kansas Legal Services sees many low-income elderly folks fall victim to financial exploitation in Wyandotte County.
Barbara Summers, the manager at Crossline Towers, cried while talking to 41 Action News about Able’s situation. She confirmed he is in the process of being evicted. Summers says she wishes she could do something about the two men eliciting money from Able, but because it all takes place outside of the building, her hands are tied. 41 Action News knows the names of the two men but wasn’t able to track them down.