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Sometimes Payday Loans are the Only Option

Sometimes Payday Loans are the Only Option

The Ashland Daily Tidings, a newspaper in Ashland, Oregon, recently published an articled entitled For some, payday loans are only way. In the article it details how lenders are enduring growing opposition, yet payday loans still are the only option for some people sometimes.

The article discuss the first hand experiences of a man who uses cash advance services. He likes that they are an available option as a last resort when you need money. Like many people, he doesn't use them all the time, but turns to payday loans from time to time when he needs emergency money.

The cash advance payday loan industry continues to grow, because they service this need for short term emergency loans that many people need at one time or another. However, the industry is notorious for charging relatively hefty fees, which is why some legislators and consumer advocates are looking to more heavily regulate, or even shut down, the business.

They are looking to protect consumers, yet as noted in this news article, people often have no where else to turn when they really need money. Therefore, simply passing laws and closing down the payday loan industry, leaving people with no options, is not the way. On the other hand, compelling the industry to charge more reasonable fees could be something that could really help average consumers.

When you do need a cash advance, make sure you shop around to get the best rate. At, you can compare various online personal loan services, and quickly compare their fees. While you may be best off never getting a cash advance at all, to avoid paying any fees, if you need to get a payday loan, do yourself a favor and find one with lower fees.

Posted by Cash Advance Planet
Apr 18, 2006 6:57 am

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