Comments on: What is your opinion of payday loan establishments?

By: Mary C

Mary C — Tue, 03 Mar 2009 06:05:42 +0000

I think the payday loan stores have a place. The folks who use them would be unable to borrow the money anywhere else to tide them over in an emergency. Of course, the users should be aware that this is a one-time, short-term fix. But they really have no other options.

It’s much the same with the various “rent-to-own” appliance centers. The folks who use that method to buy a TV or appliance don’t have the option of walking into Sears and getting credit. Unfortunately, they end up paying many times the worth of the appliance before they own it.

It is the same old story…Rich folks get the elevator; poor folks get the shaft!

By: Primordius Drool

Primordius Drool — Mon, 02 Mar 2009 04:02:57 +0000

My opinion is that if your financial situation is so dire that you’re considering using one, you’d be much, much better off selling something - anything - you own and don’t immediately need.

By: mikeburns55

mikeburns55 — Sun, 01 Mar 2009 04:51:52 +0000

Out here in AZ, a lot of Mexican immigrants have no bank account, so they use those places to cash checks. Many people want to make life hard on Mexicans, and therefore try to reduce the number of Payday loan places or make it harder for them to do business. It’s a form of closet racism.

By: Matt

Matt — Thu, 26 Feb 2009 14:06:18 +0000

I would never allow myself to get into the trap of using them. That is why they are considered evil because people have used payday loans as a way to pay for their lives from one paycheck to the next. And that is not what they are meant for; they are short-term credit establishments.

But there are people out there who do not have a stable income and, let’s face it, there are some stupid people out there. And that is why I think some regulation needs to be made. But I also believe that people need to accept some personal responsibility for their money and lifestyle decisions.

By: Eye of Sauron

Eye of Sauron — Wed, 25 Feb 2009 07:44:05 +0000

They seem like an ok idea to get you past a hard time but you do better pawning something interest wise than a payday loan. If you default on them they pound your bank account daily overdrawing it and costing you numerous bank charges. They should be made illegal.