OK, one of my clients is a payday lender in a wealthy country. I have the complete banking histories of 10s of thousands of low income people in front of me.
I insist that the distinguishment proposed in the article is BS.
There is a small subset of clients with disabilities AND absense of insurance/government pensions, whose situation is permanent for all intents and purposes. But everyone else, one-off clients as well as regulars have ups and downs, and get through defaults or manage to repay their debt at times.
Gambling and alcohol are a clear factor (drug abuse is harder to identify on someone's bank statement), but cases such as divorce from a partner with abuse problems bring relief most of the time. Children grow up or grow older and require less work or even generate income of their own.
I know it's different, when you live in a low income country and everyone around is poor and scamming people on the internet or marine piracy are the only possible access options to wealth, but that's a different topic.
I insist that the distinguishment proposed in the article is BS.
There is a small subset of clients with disabilities AND absense of insurance/government pensions, whose situation is permanent for all intents and purposes. But everyone else, one-off clients as well as regulars have ups and downs, and get through defaults or manage to repay their debt at times. Gambling and alcohol are a clear factor (drug abuse is harder to identify on someone's bank statement), but cases such as divorce from a partner with abuse problems bring relief most of the time. Children grow up or grow older and require less work or even generate income of their own.
I know it's different, when you live in a low income country and everyone around is poor and scamming people on the internet or marine piracy are the only possible access options to wealth, but that's a different topic.