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We don't have a revenue problem, we have a SPENDING problem


Quote:here is a link to the laws state by state, it's regulated at the state level.

 

http://loans.org/payday/studies/state-laws

 

Most states the limit is $500 and it clearly states the terms are from 10-30 days (covering a pay period) I don't get it, how is this worse then a credit card with 30% interest and $95 annual fee's that's the only option most people taking out payday loans would be allowed. Or a secured card?
 

I've personally never taken out a payday loan. I'm very careful about interest rates.


 

But if someone really needs one, it can be a lifesaver. I don't see how shutting them down is good for those who need them. If you have a long term problem rather than a short term cash-flow problem, then payday loans are not the answer.





                                                                          

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We don't have a revenue problem, we have a SPENDING problem - by MalabarJag - 05-14-2015, 02:04 PM



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