So I've been hearing a lot about predatory lenders. Who are these people and why are they preying on others?

Are they lurking in the dark alleyways just waiting on someone to walk by and jump out at them holding a pen and promissary note. "Hey lady," in creepy voice "you gotta take this money, and then pay me back at a higher rate than is humanly possible to repay."

And, if they are doing that - why are people agreeing to it. Can't they say no to a sleazy half bald guy in a cheap suite who reeks of Old Spice? Can they not be bullied into taking out a loan for 10K for that gotta have rack job for their girlfriend, the stripper?

Or are predatory lenders the once that lurk around retirement homes who offer little old ladies free cash for the holidays so that they have money to buy their grandkids electrical devices they don't really need. And then after New Years, do these predatory lenders go back to the old folks home and repo the little old ladies' walkers?

Since, I don't know what a predatory lender looks like, i'll just stay away from anyone offering free immediate cash, and promising an easy pay back rate of 27 percent.