Concerned USCitizen

Advance America Advances Internet Strategy

The article's comments are valid and honest. AEA and others offer a financial option, when used prudently - just like any other financial tool. Consumer demand is strong and will continue to grow as America adjusts to changing economic conditions and weans itself off of easy and irresponsible credit and asset valuations. The current situation is a combination of many things for decades here (with recent years spreading to other developed countries to some extent). To not understand and acknowledge this is naive or uninformed.

A payday loan can be a responsible tool when used correctly. Unlike an Overdraft charge - a common comparable, made without the choice of funding or use of funds, terms or any other related choices by the consumer, but by the bank / credit union. If an overdraft charge were to play by the same rules (disclosure, opt-in, APR, etc,...) there would be no discussion about the better choice. The banking lobby has eliminated that comparison information.

The cycle of debt argument is flimsy at best. A bad decision does not necessarily mean the product was bad, the application for the situation or unforseen/changing circumstances, or mismangement were probably the real reason. To extend that argument, no credit product is good and we should all eliminate car loans, credit cards and mortgages - as well as most modern food options and mass produced products.