Thanks for the posting...
www.studentrefinance.org

No one is forced to use them. The interest is so high because the risk to the lender is so high. How many people bring their final paystubs in to get a "loan" for the next paycheck (which isn't coming)? Typically, people who use payday loans don't even have a bank account, let alone a credit card. Probably the worst thing about payday loans is the way that they have to be paid back. Unfortunately, not everyone understands this.

That's really true... the interest relates to the level of risk the company has to take for that type of clientel... obviously if you can get credit somewhere else, it's advisable to do so...

For just the nature of payday loans, which is really short term, and the reason for the loan is to replace income, it means that people are desparate for cash.... if people are desparate for cash, then they're probably not good credit risks... thus the higher interest rates..

I have seen over the years that there are people who use these services

Gag. The interest that is charged on these payday loans is criminal. I can't imagine ever being desperate enough to use one.

I would sell my belongings before I ever got a payday loan.