What is your opinion of payday loan establishments?

I would never allow myself to get into the trap of using them. That is why they are considered evil because people have used payday loans as a way to pay for their lives from one paycheck to the next. And that is not what they are meant for; they are short-term credit establishments.

But there are people out there who do not have a stable income and, let's face it, there are some stupid people out there. And that is why I think some regulation needs to be made. But I also believe that people need to accept some personal responsibility for their money and lifestyle decisions.

I think the payday loan stores have a place. The folks who use them would be unable to borrow the money anywhere else to tide them over in an emergency. Of course, the users should be aware that this is a one-time, short-term fix. But they really have no other options.

It's much the same with the various "rent-to-own" appliance centers. The folks who use that method to buy a TV or appliance don't have the option of walking into Sears and getting credit. Unfortunately, they end up paying many times the worth of the appliance before they own it.

It is the same old story...Rich folks get the elevator; poor folks get the shaft!

I been through the payday lending trap... I wouldn't recommend anyone to go there unless you borrow what you can afford to pay back.. They will lend you the money and you will have to pay the money lent plus the fee back in full on payday.. Example, You borrow $200, by payday you have to pay $250 back in full. If you cannot pay in full you will have to pay the fee $50 and the next payday, you still will have to pay them $250 and it's a cycle till it's paid.. They charge at least 300% interest no that loan... You will fall in that trap and wasted your hard earn money on these places...

They seem like an ok idea to get you past a hard time but you do better pawning something interest wise than a payday loan. If you default on them they pound your bank account daily overdrawing it and costing you numerous bank charges. They should be made illegal.

Out here in AZ, a lot of Mexican immigrants have no bank account, so they use those places to cash checks. Many people want to make life hard on Mexicans, and therefore try to reduce the number of Payday loan places or make it harder for them to do business. It's a form of closet racism.

My opinion is that if your financial situation is so dire that you're considering using one, you'd be much, much better off selling something - anything - you own and don't immediately need.