I am no longer in a poverty trap due to having money available...

I am no longer in a poverty trap due to having money available for investing, however I came from a background of poverty and lived it. The relevant point of my story was that I found businesses such as CCV to be useful in alleviating the extreme stress and deprivation associated with poverty until I was able to get the necessary income to attain the essential things that people take for granted; such as fridges and cars, and then go on to beginning to actually save money.

With your savings it would seem that you must have had at least a reasonably well paying job for most of your adult life. I'd say that you perhaps don't fully understand the considerable service that small lenders provide and have tried to illustrate these to you. Its easy from your position to say the effective interest charged is too high, but what is the alternative for those who don't have the basic assets to escape poverty such as a functional car for transport nor a well located place of abode? Its a catch 22 that sometimes credit is the best or only escape.

Its only because the welfare system in Australia is so woefully inadequate that these companies can exist - and it is even worse for younger Australians and students who for some reason receive less - although their basic needs are no different to someone who is older. If the government were to legislate to improve welfare to a level which doesn't impoverish its recipients I would support that, in spite of the considerable hit to companies like CCV that would result - my portfolio is diversified enough. I don't see that happening though, as usually the wider Australian society is quite reluctant to throw a bone to those unluckier or just less functionally able than themselves - a very generous portion of Australian society supports politicians and media publications that routinely demonise and target our most needy.

But anyway, if CCV isn't your cup of tea I can respect that. I have many companies that I will not invest in myself, based on my own values, but as someone who has been on both side of the tracks, my own personal view is that CCV is not a bad company to invest in today. They deserved the class actions from their previous management, the only thing missing is the charges against the previous managment themselves.