Possibly, but that sounds like a problem which could be solved separately, perhaps with stricter laws about what constitutes an onerous contract; we need not discount UBI entirely because it causes some problems, since the problems UBI causes might be better than the problems we have without UBI, and the problems with UBI might be easier to solve.

If the issue of predator treatment of consumers were addressed first, a large amount of the pressure for UBI will evaporate. The poor are poor due to predator capitalism, not due to any lack of skills on their behalf.

It might be that UBI is politically potentially possible, while the other issues are not politically viable to solve in the present situation. Politics is the art of the possible.

That's a really bad reason to keep poor people poor and a very good reason to crack down on the behaviour of rich people.

Unfortunately, that's had a really poor track record this past century or so.

I don't have a good answer either... I just agree that UBI seems like a net positive.

Being poor isn't a lack of intelligence, it's a lack of money. No doubt a few people will get conned out of their money, but for the majority it would be a net positive to have more money at their disposal.

People already get preyed on every second of every day. I don't think there would be the surge of losses you imagine.

That will absolutely happen sometimes the question is how common it will be vs how many other people will be able to use those resources to get themselves into a better situation.