Filing Bankruptcy News: Bloggers Now Promote Legal Loan Sharks
These days, everyone has a blog or several. Many people blog purely to have an outlet for their thoughts, while others attempt to use their blogs as a vehicle for making money.
One of the ways that bloggers can earn cash is through paid posts. With the paid post system, the bloggers generally have a disclosure link somewhere on their blogs indicating that they, from time to time, or in some cases constantly, accept payment to blog for advertisers.
The bloggers are paid set amounts of money, generally ranging from around $6 to $20 or in some cases more, to write posts on their blogs that speak favorably about a product or service that the advertiser offers.
While many businesses regularly use the paid posting system to get a buzz going in the blogosphere and the Internet in general about their business offerings and thousands of bloggers accept these paid blogging offers every day, there is a disturbing trend among bloggers to now hawk or endorse pretty much anything for a little cash.
With the weak economy in the United States and many people now creeping closer to filing bankruptcy each month, American bloggers are certainly hungry for cash.
We are not yet used to paying more than $3 per gallon for gasoline and the rising cost of food makes it even more difficult to stretch day job paychecks to cover all the essentials and monthly credit card bills that were racked up in easier financial times.
The dollar is shrinking and people are doing everything they can just to avoid bank foreclosures and filing bankruptcy.
Blogs are one method Americans have utilized to subsidize their incomes, and some highly successful bloggers have even made a job out of blogging. The troubling aspect of this is how the blogs earn money for the bloggers.
Paid blogging opportunities for payday lenders have become more and more prominent as these companies realize that they can really cash in on Americans who are struggling financially. Bloggers who accept these opportunities happily accept payment for writing blog posts explaining how easy it is to get payday loans, among the other "advantages" of these types of loans.
Recently on Debt Free Revolution, a writer questioned how bloggers who praise payday lenders can sleep at night. How could anyone knowingly promote lenders who routinely charge customers around 300-400% interest plus processing fees and penalties for late payments, dragging some debtors into an endless loop of loans and interest payments?
The answer is rather simple. Maybe some bloggers just don't have a conscience, or see nothing wrong with payday lenders and are so desperate for cash themselves that they don't care what they have to promote; however it is likely that many people who promote payday lenders truly don't know the details and how evil payday lending practices truly are.
Since they are legal and "legitimate" businesses who make loans to pretty much anyone, many people have no idea that these lenders cause financial devastation for the vast majority of borrowers desperate enough to take out these types of loans.
Just as payday lenders prey upon the financially desperate, they also have come to depend on these two types of bloggers to sing their praises.