Story Comments

ginger1215

I'll admit that payday loan fees stink! But they have also helped me out when I needed a new ac unit in 110 degree temperature. Or, I needed dental work for a pounding toothache. Not all of us have platinum credit cards or good credit to obtain bank loans. I am on disability from a very good job, and I once had excellent credit, no more! Banks do not see beyond that. I took care of myself and did not ask to get sick!

boogie305

Hey solidsman, don't you know not to end a sentence with a preposition? Haven't you ever heard the idiom, "People who live in glass houses should not throw stones"? Learn to play nice.

solidsdman

Too bad the author of this article, Alexandra, doesn't know how to write proper English. The plural of attorney general it attorneys general, not attorney generals. It's just another small sign of how stupid Americans are becoming and why they are taken advantage of.

Out4Kix

While PayDay loans do carry a very high interest rate, the $15 per $100 is still cheaper than the $39 fee my bank charges me for bouncing a $5 check! (Not to mention the usual $25 fee a merchant charges in your check comes back NSF,) I have used these loans in a pinch and appreciate them. For example, I had to get a new windshield in my car, at a cost of $200. I didn't get paid for 10 days, so I did the PayDay loan and got the money I needed right away. Another time my daughter needed to fly home from New York, again, I didn't have the extra cash, so I did an advance. There have been a couple of times I have had to readvance a couple of times, incurring more fees, but in the long run I was able to pay for the things I needed to, and avoided HUGE fees from the bank. Why doesn't the government ban them from charging such outrageous fees on NSF checks???

1Banker

I would like for the government to close-down all Payday Loans. Consumers that are already in financial troubles who have an easy access to these lenders are getting in more further debts. How is that helping our economy? These lenders are in every corner of the city and internet. If these lenders are banned in some states they ought to be banned in every state. They are taking advantage of the ones that are already in financial trouble. Do something before it get out of hands! Since when did it become okay to cater to the ones that are already poor and make them poorer? It just doesn't make sense.