Believe it or not I manage a payday loan store and am a Dave Ramsey student. I've heard people (including Dave) throw out some misleading numbers. The majority of my customers (98%) pay their loans back on time. They also own their home and have gone to college. These are not poor uneducated people. They may use this a handful of times and pay off. That's how you use it. If everybody listened to Dave then nobody would need my services. I help people everyday. I helped with back to school, a car repair, filling the gap on rent, keeping the lights on, etc. I know that some people get caught up in a endless cycle, but the majority of people do not. The industry is heavily regulated in my state with limits on how much you can borrow and how many loans you can have at one time. I listened to people give my industry a bad rap everyday. I just wanted to respond and let you know that it's not that way everywhere.

Glenn January 31 2010 4:33 PM

I can understand your position Mary but i think you should have decided not to go for a loan when you were not in a position to pay for the first one. Its better to stay away rather than to go for second or third to pay the first. They charge a lot so its better if you opt only when you are in real emergency.

Steven Francis October 21 2009 11:43 PM

there is something worse than payday loan places: checking account advances offered by you bank. What makes them worse is that they make is easier by allowing you to take out the loan simply by hitting the buttons on your cell phone (at 120% APR interest). Every week you see your paychecks getting smaller because the loan gets payed off first out of your direct deposit. you then get caught in that cycle of borrowing until you wake up(hopefully) and se3e how evil this "service" is.

Don September 26 2009 8:26 AM

Stay away from those guys!

Ron Coffman September 24 2009 9:54 AM