Topic: Payday loans should be banned
sometimes we have an unexpected bill or cost occurring at just the wrong time in the month. payday loans enable you to finance that cost and are especially useful if the need is essential.
The alternative to having a system of payday loans is that people are unable to pay their bills or get needed immediate assistance, costing both long and short term harms.
the companies that operate these organizations are taking advantage and charging excess fees.
the costs to the borrower is so great that they are much more likely to need such a loan again and again
The government has an obligation to protect the worst off in society, and payday loans specifically target the poor to make money off financial desperation, meaning the government should intervene and ban these loans.
The governments obligation is not to make decisions for individuals financial well-beings, but to provide a free market atmosphere where people can have the option to take out payday loans if they choose to do so.
The high interest and strict terms of Payday loans make them difficult for people to pay back in the amount of time given.
the high interest rates associated with payday loans and the ease with which they can be obtained trap people into a spiral of debt
the high interest rates charged by payday loan companies cause people to get into a spiral of debt from which they cannot escape
the high interest rates on payday loans trap people into a spiral of debt from which they cannot escape
the high levels of interest are not justifiable
the idea behind every loan, including payday loans, is to help people financially in their times of need and that is exactly what payday loan does.
the interest rate when failing to pay back in time can be as high as 300%, making your financial situation even more difficult.
the interest rates are too high and trap people in debt.
the interest rates on these loans is too high for many to repay
the payday loan should not be prohibited because each individual is free to negotiate with another individual. free market law. the state should not interfere.
the payday loans shouldn't be banned because is important in ecomics of people
the poor suffer due to high rates of interest
the repayment terms are ridiculous, the average interest rate is around 300%, many people find the repayment terms difficult to meet which then leads them to get into further debt & even repossession
The short repayment period for a payday loan is an advantage in terms of protecting your credit rating.
The short term nature of the loan repayment structure actively incentivizes both the rollover of previous debt, and the need to take out more debt over time.
the terms of the loan are clearly outlined. it's up to the individual consumer whether they want to use it or not
the use of payday loans keep people in an endless cycle of debt. people using these services have to keep borrowing the money in order to make ends meet.
the working person sometimes needs money a little early for out of the ordinary expenses.  payday loans is just one helpful resource for such a situation.