Random Thoughts

You’ll find critics of payday loans and payday lenders hurling criticisms from all directions. You’ll notice opportunistic politicians referring to them with pejorative terms and trying to regulate them out of business. Payday lenders aren’t very popular in some circles, to say the least.

But the critics have it wrong. Payday lenders aren’t some kind of destructive force. When used properly and responsibly, they can be lifesavers.

Not everyone has the luxury of a net worth exceeding a million dollars. Many of us are working hard every month without much margin for error. When we accidentally get a speeding ticket, a flat tire, or some other unexpected expense it’s a real challenge. In these cases, we need one thing: Quick cash.

Unfortunately, our friendly neighborhood banks won’t cut us a check for $200, no matter how long we’ve done business with them. Even if they would be willing to lend us money, it would take more than a few hours to walk out with cash in our hands. One could try to cover the emergency with a credit card, but let’s be honest, some of us are already maxed out or no longer have access to consumer credit.

So, what can we do? We can visit websites like paydayone.com or walk into a payday lender’s office. We can get the money we actually need to meet a short-term emergency quickly and easily. We can resolve the problem we’re facing and then get back to work.

Critics may like to vilify them, but until those critics are willing to loan you a few hundred dollars when you need it the most, they might not be the best source of opinion. Payday loans aren’t something we should use week after week, month after month. They’re something we can use in an emergency, though. They’re an option that often makes sense.