Payday loans are an option
March 5, 2008 | industry | Comments (0)There’s been a lot of heated rhetoric about the payday advance industry but when you break it down to its most basic level, it’s pretty straightforward. A borrower who needs a bit of cash on a short term basis connects with a lender who can quickly accommodate that need. That’s the simple point made in the March 5 ‘Payday Loan is an Option’ entry by one consumer finance blogger who’s wise enough to cut to the chase on the issue. Here’s an operative passage:
“The point to note is that payday loans are ultra short loans that we should repay as much as we can when our next paycheck arrives. A payday loan is supposed to pull us through between paychecks especially when we require a lump sum of money in an emergency.”
Common sense and choice. That’s what personal finance should be about.
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