The Payday Pundit received this email tonight.

I have worked for a payday loan company for 5 years, and we are definitely a help to our community. Our customers are from varied walks of life: retired, some on social security income, unemployed, people who make over$50,000 a year, people who live paycheck to paycheck (who doesn’t?). There are some who depend on us regularly and some who come in just when something unexpected comes up. Our customers will be in a bad situation if we close our doors. They sign the contract and agree to their (usually 2 week, not a YEAR) FEE. Everything is upfront and they are aware of exactly what they are signing. They are not helped by their banks or have gotten in trouble with their banks and high interest credit cards. They don’t want to ask their families for help.

We need to charge the appropriate fee in order to pay for our labor, rent, utilities, etc. as any business does. We also provide many other services besides payday loans although this is our main service.

Payday lending is a service that is very needed, if not, why would there be so many of us and so many customers?

We also support many good causes such as the Susan G Koman Breast Cancer Foundation, Juvenile Diabetes Research Fund (JDRF) and currently the Big Brother/ Big Sister Foundation.