Bad-check costs exceed payday loan's

[cashlenders]

Regarding Laurie Roberts' column on Wednesday, "Payday-loan industry is bankrolling Prop. 200": It concerns me that the writer does not have my best interest at heart.

I recently moved here from Oregon, where I would occasionally get a payday loan to help until my next paycheck. That was until Oregon passed a law that lowered interest rates on payday loans. The law was sold to the public as better for consumers like me.

The problem, however, was that the payday-loan companies closed their doors in Oregon. Then, when I was short on money, I had to pay bounced-check fees to the bank - fees that cost me much more than a payday loan would have.

Now I live in Arizona, where payday loans are readily available and I read that Laurie Roberts thinks that getting rid of payday loans will help people like me. I doubt that The Republic's columnist will ever need a payday loan, but I might.

Don't get rid of payday loans. I can't afford the more costly bounced-check fees. - Paul Morgan,Glendale

source: the arizona republic

[kenty]

I think the people who don't ever bounce a check, nor pay high bank fees, nor ever need a Payday Loan are missing the point. More often than not, if you do the math, bank overdraft fees are more expensive than Cash Advances and or Payday Loans.