The Need for Payday Loans in Arizona
Posted by AlSo they made payday loans go away in Arizona, but did they make the need for payday loans to go away?
“Nobody paid any attention to, what’s a better alternative to payday loans,” Lee Miller, General Counsel for the Community Financial Services Association said.
“Rest assured that while payday loans may be going away tomorrow, that the need doesn’t go away tomorrow and we’re going to have to find a way to fill that need,” Miller said according to this article.
The bottom line is that when politicians ban payday loans, they must be driven by other purposes, other than protecting or helping consumers because such bans without offering alternatives only helps the consumers.
People take payday advance loans because they don’t have many other options. They don’t have family that can lend them money or they are not affiliated with any local religious or organization to help them with their short term cash needs. Not to mention that even if they were affiliated with religious organizations such as churches, it would not be as fast or easy to get a loan from those organizations because they are often run by part time volunteers not full time professionals.
