Average Folks Question Banning Payday Loans

By | Aug 22, 2008

Sometimes we forget just what a payday loan means to a family that experiences a temporary financial setback and has no where to turn for help.

I am a single father of three children. I have had a career in the aviation field since serving 7 years in the U.S. Navy. I make mid 40’s for yearly income. Then I pay my monthly bills and there is no more room for anything else. There have been several times that these payday advance businesses have saved me from a grim financial time. In this position, I haven’t got family, friends to rely on and have to resort to “survival of the fittest.” When a check is returned at my bank, it is the equivelant charge of getting a payday loan of $250 (the fee would be $37 vs. a $35 fee from my bank.) Granted, of course there is a loan involved but the money was used for food, gas etc.

Why is it in the interest of our local state gov. to forbid this? I have spoken to people that are well off with money and everyone of them have agreed that these loans should be terminated, the business should be put under as if they are loan sharks. I have never been late on payment so I wouldn’t know…

Go BuckeyeStateBlog.com here to read the entire article as written by average folks using payday loans to solve temporary problems.

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4 Comments so far
  1. Mitcheal August 22, 2008 12:15 pm

    However,

    Though this is great, getting approved is not the same as getting access to the money so you want to see how quickly the funding takes place in these fast payday loans.

  2. Cash Advance August 22, 2008 5:17 pm

    Cash Advances are exactly what the name implies. They are an advance to get you to your next payday. We all face unexpected expenses that can leave us short on money. With limited paperwork and time you can get back in control of your finances.

  3. Mark Jerard August 27, 2008 7:15 am

    One advantage is that payday cash advances are a quick and simple way of boosting our immediate finances.

  4. No Fax Payday Loans - David September 8, 2008 10:57 am

    From time to time, people can get caught in some sticky financial situations. In today’s society, money seems to be the determining factor of whether or not a person will succeed in life. Especially in our country, the world revolves around how much you have in your bank account. http://personalmoneystore.com/moneyblog/

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