Have you ever been "pre-qualified"? Almost weekly, this writer receives a flier in my mailbox from a local finance company, telling me that I'm pre-qualified (not pre-approved) for a financial loan of $5,000. Some of these slick finance companies have an 18 percent annual interest rate (in very small print), which blows this writer's mind. In Texas English, this means they are going to get rich off you with this "pre-qualified" loan.However, the qualifier in this particular case (from the backside of the flier), is the following: "This offer is not guaranteed if you do not meet our criteria, including providing acceptable property as collateral."
Now the truth of the matter finally comes out (key words being "property" and "collateral").
Once again, in Texas English, for the folks who accept the loan requirements, this translates into the possibility of having to mortgage their house, car, and metaphorically speaking, their arm and leg, in order to assure the repayment of the $5,000 loan. In other words, this bunch of scam artists want to place you under their financial thumb for a long period of time.
Regarding finances, a very wise man by the name of William Shakespeare once stated, “Neither a borrower nor a lender be, for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry” (source). In Texas English, be extremely careful in your borrowing and lending, for it's highly possible that your transaction could literally cost you the farm, i.e., your livelihood (see why here).
Beloved, the wise Proverb writer tells us, "The rich rules over the poor, And the borrower is servant to the lender" (Proverbs 22:7).
Need anything else be said?
---Mike Riley, Gospel Snippets
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