I hate to imagine that the statist nannies (whom you seem to agree with) will get their way and protect me from "the predators". Let me make my own damn decisions.
Nobody wants to shut down the payday loan places from how you use them. What they’re trying to do is prevent them from having the eternal roll over fee. That’s where they turn into mobsters, pushing people to a loan they can’t afford to payback so they’re stuck rolling it over forever. Even if they just applied $1 of the roll over fee to the principal of the loan that would be a step in the right direction. But the goal of the business is the perpetual roll over. That’s the scam they push on people, from their perspective you’re the kind of customer they have to put up with for the veneer of honesty while they’re fleecing others.
I, for one, appreciate the ability to borrow $100 every three months when my SS check needs to cover five weeks of expenses rather than the usual four. Admittedly, the $15 charge I pay once a quarter is a huge percentage rate but, come on, it’s only $15 and is very much worth it to me.
I hate to imagine that the statist nannies (whom you seem to agree with) will get their way and protect me from “the predators”. Let me make my own damn decisions.
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I appreciate your desire to maintain your freedom of choice.
HOWEVER
I must point out the stupidity of your choice. It would be much smarter if you would just make do with less when the next 5 week month comes along. Then build up a small surplus in your bank account during the next series of 4 week months due to the fact that you have no loan to pay back. ONce you have that surplus built up you will never need another payday loan and you will never need to make do with less during another 5 week month.
I don’t expect this type of logic to make a lick of sense to you. I realize that if you were smart enough to understand it, you would’ve been smart enough to figure it out on your own long long time ago.