A HOPE Leader Speaks Out on Predatory Payday Lenders, and Also Speaks Up For Themselves

August, 2011

JHB Primary Headshot The following note was sent to me by one of my HOPE Leaders (an employee), which only proves and underscores that these issues of financial literacy, financial illiteracy, and financial predators, reaches and impacts all -- even our own people.  The key is becoming empowered, and then doing something about it.  As you can see below, this employee of mine is doing precisely that.  Should be an inspiration, for all.

I am getting out of my mess so don’t worry (Sometimes the best lessons to learn are the hardest to experience. (and yes, I take ownership for this. I did this to myself) (and yes, HOPE has helped)

 I originally had 7 of these payday loan things and was literally drowning because I could not figure a way out. The more I went into debt the more I needed to borrow to cover the debt.

When you really sit back and look at the business they run, it really seems like it should be ILLEGAL. Once a person falls prey to them it is very hard to get out.

Here is just one as an example:

Current Loan Amount:




Current Finance Charge:




Current Loan Balance:




Next Scheduled Payment Date:




Loan Principle Payment:




Finance Charge Due:




Total Minumum Amount Due:




Balance After Scheduled Payment:



I just wanted you to know that I really did learn a valuable lesson through this. I am actually establishing my credit in the right way now and although this has been an extremely painful lesson, I guess I needed to really learn how to manage my money and not get into situations like this where I fall into a victim role. I should have known better in hindsight.

 John, these companies should be put out of business and that is why what we do here at HOPE is so incredibly important. I know I am not the only one and there are literally thousands more out there caught in this horrible and debilitating cycle from these predatory lenders.

 Let me know how we as an organization can put these kinds of companies out of business. I want to help.


I am leaving their name out of this this for privacy purposes, but what an inspiration they are to me, and for others in need of "hope."

Onward and with HOPE


John Hope Bryant is a thought leader, founder, chairman and CEO of Operation HOPE and Bryant Group Companies, Inc. Magazine/CEO READ bestselling business author of LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World (Jossey-Bass), and a Member of the U.S. President’s Advisory Council on Financial Capability for President Barack Obama.  Mr. Bryant is a co-founder of Global Dignity with HRH Crown Prince Haakon of Norway and Professor Pekka Himanen of Finland. Global Dignity is affiliated with the Forum of Young Global Leaders and the World Economic Forum.




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