Pay day lenders still in michigan.

[carol b]

We still have those pay day lenders here in michigan. They however
now can only take 1 payment. We used to be able to make 2 payments.

The law changed and I am guessing because you get the whole loan in
one installment and that it has to be paid back in the same fashion. I do
believe however that this is making it much more difficult for the people
who are recieving the loans.

Most of us have gotten these payday loans and it has made it easier to
pay those bills that you can't make small payments on. The old way also
made it easier to catch everything up. Two smaller payments was so nice
now you have to worry and ignore something so that you check won't bounce.

I need to do this occasionally and hate the fact that now we are limited
by government intervention yet again. The people of this country are
suffering and something needs to be done to help them and quickly.

[pennypinch]

The payday lending actually scares me. I am glad that your experiences have been good with this but I know someone who has been hurt by it. She had to borrow one time... and when the time came to make her payment she made and had to borrow again because she didn't have enough funds to get through that week. This has gone on and on and she is having a real hard time breaking the cycle. It does sound as though it would be easy to get caught up in it and not be able to get back out!