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Is there another side to the payday lending debate?

• Broken_Hippo 10y ago
  There aren't any "magick" solutions. The thing with loan sharks is that a lot of people really don't know how to find these sorts of folks, but they do know where to find the payday lender - so I don't think this is really anything more than a scare tactic. A more reasonable outcome, however, is that while people wouldn't be held hostage by these legal options, they would wind up with less. Less working vehicle. Less medicine. Less housing. Sometimes that would result in a lost job. A few folks would, of course, find a loan shark or do other illegal things to get by - but allowing an entire industry to fleece part of the population for the minority seems a bit ridiculous. There are places in some communities that offer crisis help, but rarely do these places help everyone. They can't - they simply don't have the funds. Payday loans are usually a thing people do in a bad situation. Things like reasonable wages or an actual safety net from the government that helps shield such things seem like an impossible feat in the current political climate, though it seems like that sort of thing would ease the need for such loans.