Comments on: Should payday loans be outlawed? http://paydaypundit.org/2010/08/30/should-payday-loans-be-outlawed/ News and Information About The Payday Lending Industry Tue, 21 Dec 2010 17:59:56 -0800 hourly 1 http://wordpress.org/?v=3.0.1 By: Al Eli http://paydaypundit.org/2010/08/30/should-payday-loans-be-outlawed/comment-page-1/#comment-12172 Al Eli Mon, 30 Aug 2010 23:32:08 +0000 http://paydaypundit.org/?p=10718#comment-12172 This past weekend I paid $3 to a store ATM so I can get $40 out of my own money! But I am not complaining. The point is lack of options is what led me to go to a store ATM to get cash out when I needed it. So in fact I appreciate the fact that someone put an ATM there in middle of nowhere to help me out. $3 is a bit too high but it did help me out. It's the same deal with payday loans and other type of short term loans. People take them, because they under employed and they have problem with cash flow but they lack option. And banks aren't lending these days, they are in fact taking money away from people in all sort of way. So people go with payday lender. I would really hope State and Federal politicians would promote responsible payday lending, instead of continue threatening of banning it. And I wish they would put more focus on creating jobs so people would be less reliant on payday loans or any type of loans. This past weekend I paid $3 to a store ATM so I can get $40 out of my own money! But I am not complaining.
The point is lack of options is what led me to go to a store ATM to get cash out when I needed it. So in fact I appreciate the fact that someone put an ATM there in middle of nowhere to help me out. $3 is a bit too high but it did help me out.
It’s the same deal with payday loans and other type of short term loans. People take them, because they under employed and they have problem with cash flow but they lack option. And banks aren’t lending these days, they are in fact taking money away from people in all sort of way. So people go with payday lender.
I would really hope State and Federal politicians would promote responsible payday lending, instead of continue threatening of banning it. And I wish they would put more focus on creating jobs so people would be less reliant on payday loans or any type of loans.

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