janejim wrote on May 04, 2009 02:46 AM: Banks have huge debts, but they're getting a helping hand from the federal government. If you have overwhelming debt--perhaps from bad investments, or maybe a job loss, a medical crisis or just plain overspending--you're probably on your own. Check the website http://24hrbreakingnews.blogspot.com'>http://24hrbreakingnews.blogspot.com/2009/04/credit-counseling-service.html">http://24hrbreakingnews.blogspot.com to see if they can help. I was also in trouble and I am glad I did check it before I talk to my CC company and it helped - Jane Jim, California

Cara wrote on April 19, 2009 06:08 PM: It is extremely refreshing to see that there really are viable options to Payday Loans available for consumers. By requiring much the same things from consumers that payday loans require these credit unions are actually competing. Sadly though, this is not the case for most consumers. For many, a payday loan is all that is left, and they are quite grateful for them when they are available.

Payday Lending Rep wrote on April 17, 2009 03:09 PM: Cross-posted from the other identical article:

To date, almost all of the attempts to create payday loan alternatives have either been charity-based, required government subsidies, unavailable to the general public, unprofitable or unsustainable. In most cases, the products are offered as a “community service.”

These “alternatives” are completely different products from payday loans with different terms and different fee structures. Many come with a variety of restrictions and complicated fee structures. They provide another choice for consumers, but cannot be considered a replacement for payday loans.

Free Nevada wrote on April 15, 2009 06:29 PM: @Ken, how many meth addicts do you know that have verifiable employment and pass a criminal background check? Whereas NV's gambling addicts are typically employed by their actual "dealer". Places like MGM MIRAGE allow their dealers to come sit right in the games and start playing when they get off "work"...

Sweet Tart wrote on April 15, 2009 05:36 PM: "we are all responsible for our own actions; including how we spend and save our money." Nicely said Ken and this is the root of all money problems. Blame who you will, people just make bad choices over and over again. Take Wendy Schmett at Las Vegas High School for example. She borrowed over 4,000 dollars from different faculty members over the course of a single school year because she couldn't manage her money. Borrowing money from other teachers with no intentions of paying it back? Unforgiveable. Cmon people, make better choices with your finances and stop whining about your situations.

Ken wrote on April 15, 2009 03:25 PM: GladK -- your point is well taken but vice is vice. Ohio may not be a gambling mecca but I will put up one unemployed meth addict for every gambling addict that drags themselves into a payday loan place here.

GladK wrote on April 15, 2009 02:04 PM: Hey Ken, the difference is that HERE, the payday loan places know full well that their customers likely as not are gambling addicts, in a frenzy to get ahold of more cash to rush back to a friendly neighborhood casino directly across the street. Personal responsiblity is a wise & wonderful thing but man oh man does Nevada allow parasite corporations unlimited opportunities to tempt the local population.

Today's the Day!! wrote on April 15, 2009 01:39 PM: "Even some high-income earners have used payday lenders. One member who relies on payday loans from the credit union earns more than $100,000 yearly, Beal said." Just another sad example of those who REFUSE to live within their means. And we sit and wonder how those executives have the audacity to accept their million dollar bonuses. We are greedy and we have been programmed that we must have more stuff! This recession is exactly what is needed to knock people off of the want now/have now merri-go-round.

Ken wrote on April 15, 2009 01:05 PM: You can whine about fees and late charges all you want but we are all responsible for our own actions; including how we spend and save our money. I understand how some people barely make ends meet but if you sign on the dotted line, regardless of your circumstances, don't come complaining here about interest and charges.

Oh and to GaleWyker -- Your points are well taken but please don't make it sound like this is a Nevada phenom. I moved out here from Ohio and there were just as many payday loan centers and just as many people lining up not considering the consequences.

David wrote on April 15, 2009 10:14 AM: You can get around these exhorbitant fees at NFCU by opening a quickline-package account. Basically, it is a revolving credit line designed to cover acccount overdrafts. You only pay interest charges (17%) for the time you have the money. No service charges on the account or the transaction. You would pay just $4.56 interest for a 2 week loan on $700.00. Far better than the $60.00 fee charged.

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