Robin Hood Syndrome Doesn’t Always Pay

Times are often tough, but there many options for those who are need of money. From personal loans that are available at banks and financial institutions and pay day loans that are available online and at check cashing place in your area, you have ways to get money to pay past due bills and other financial obligations. Although bank loans have much paperwork to deal with, their interest rates are lower than any of the other options available to consumers. Payday loans are great because they are quick and easy and have very lenient credit guidelines. Once you get the money you need, you can pay off any bills and repay your loan when you can.

Banks have been through changes due to the housing crisis that we are all experiencing. Due to unscrupulous lenders, people who could not afford their mortgage payments have defaulted in droves and many have had to sell their homes at low prices or have been foreclosed on by banks. Many people have turned to others for help, but a banker in Detroit has claimed to have been helping customers by stealing money from the bank where she worked for eight years. The woman, Patricia Keezer, claims to have started embezzling money in 2000 by giving customers a few thousand at a time to help with car repairs and other financial needs. Over the next eight years, she would steal roughly $340,000. When the bank was audited, she would cover her tracks by forging records and covering one dollar bills with one-hundred dollar bills.

This Robin Hood behavior is often meant to help, but in the long run, it can hurt not only the person trying to help, but those who they help. Stealing is not the right way to get money to help pay bills. We, as consumers, must do the right thing and get our loans from the right sources with legal agreements and paperwork signed with our promise to repay on time.