Real Bad Guys Aren’t Fun: Why Bad Credit Lenders Are No Suicide Squad


Predatory lenders and their bad credit loans aren’t nearly as fun as Batman villains, and they’re also far more dangerous …

Bad guys and their bad credit loans

The best part of any superhero movie is the villain, right? From Lex Luthor to Magneto to The Joker, villains are just more fun. They get the best lines, the funniest jokes, and they have the most memorable moments. So why not make a movie that has nothing but villains? Wouldn’t that kinda maybe sorta be the best superhero movie of all?

Enter Suicide Squad, which opens nationwide today: It’s basically a Batman movie without all the pesky Batman parts. The movie should finally give audiences a chance to do what they’ve always wanted to: openly root for the bad guys.

In real life, however, things are a little different. Bad guys in the movies are fun, but in the real world, the villains usually aren’t that witty, none of them dress in wacky costumes, and most do their damage with decimals and spreadsheets, not exploding clown grenades. Take predatory payday loans and title loans, for example: they take advantage of people with low incomes and bad credit scores in communities across the nation. And they do it in the dullest way possible: with high interest rates, short terms, and lump sum repayment requirements. So this weekend, while everyone is rooting for the bad guys in Suicide Squad, take some time to consider these facts about what real villainy looks like in the world of bad credit loans:

They lie

Predatory payday and title lenders will tell you that their products are only meant to cover short-term cash shortfalls, not long-term needs. In fact, if people with bad credit only used these loans to cover short-term needs, it would put the industry out of business. A whopping 80 percent of payday[1] and title loans[2] are the result of someone taking out multiple loans in a row.

They set traps

The average payday loan customer owes approximately $430 to the lender; and due to the way these loans are structured, they have to pay all that money back at once. For people with high-paying jobs and good credit this wouldn’t be a problem, However, given that the average payday loan customer has less-than-perfect credit and can only afford less than $100 a month on their loan, they usually have to roll the loan over again and again just to be able to pay it off![3]

They prey on the weak

Payday and title lenders charge Annual Percentage Rates (APRs) over 300 percent. That’s ridiculous! But they are able to get away with it by targeting borrowers who have almost no better options. Their customers are usually folks with bad credit, meager savings, and an average income of only $26,167.[4] These are people who can’t simply go to the bank and get approved for a personal loan; they think bad credit loans from payday and title lenders are their only way out. Like many predators before them, these lenders always go for the weakest members of the herd.

They’re everywhere

With more than 20,000 locations nationwide, there are more payday loan storefronts than there are McDonalds![5] We’re not loving it.

Unlike the characters in Suicide Squad, there’s no rallying this group of villains to fight for a worthy cause. The only solution for predatory lending is to wipe it out entirely. And while the Consumer Financial Protection Bureau (CFPB) has recently taken steps to curb predatory lending in the United States, government action alone is simply not enough. People with bad credit who can’t get approved for a traditional loan also need safe, affordable alternatives (read more in Borrowers Deserve Better than a Payday Loan: The Story Behind the 36% APR Benchmark).

OppLoans: The hero you need and deserve

That’s where OppLoans comes in. We offer personal installment loans that folks with bad credit can actually afford. Our loans come with longer terms (6 to 36 months), so you don’t have to rollover or refinance your loan just to pay it off. Plus, we have interest rates that are 70 to 125 percent less than other personal lenders, and we don’t charge any application or prepayment fees. Our loans are designed to be paid off in a series of fixed, regular payments that can fit into even the tightest budget.

At OppLoans, you’ll get a loan that’s stable, responsible, and safe—with no surprises. We’ll leave the clowning around to those other jokers.

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  1. Burke, K., Lanning, J., Leary, J., & Wang, J. (2014, March). CFPB Data Point: Payday Lending.
  2. Montezemolo, S. (2013, July). Car-Title Lending. Retrieved from
  3. Bourke, N., Horowitz, A., & Roche, T. (2013, February). Payday Lending America: How Borrowers Choose and Repay Payday Loans. Retrieved from
  4. Payday Loans and Deposit Advance Products. (2013, April 24). Retrieved from
  5. Cox, J. (2014, November 24). There Are More Payday Lenders in U.S. Than McDonald’s. Retrieved from

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