Payday lenders are organizations which encourage an individual to take out a small loan to be repaid by the individual's next payday.  The interest rates charged by payday lenders are far higher than any other credit service, even higher than credit card default rates.  Payday lenders try to persuade you that you need cash "today" and that their service is a convenient way to get that cash with minimal effort on your part.  Payday lenders are most successful in localities where wages are low and the cost of living is high.

 The danger payday lenders bring to your community is that many people cannot pay the lender in full the next  payday.  The result is a rolling loan, at exhorbitant interest rates, with the borrower ending up being a economic slave to the lender for many weeks or even months.  Payday lenders prey upon the poorest in our communities. 

If you find yourself resorting to payday lenders to keep up with financial obligations, you should consider bankruptcy as an option instead.  Although bankruptcy is a serious step that should be undertaken only after careful thought, it may offer more financial relief than a rolling payday loan.  Bankruptcy can offer a more complete elimination of debt, thereby allowing you to live from paycheck to paycheck without needing the very expensive assistance of a payday lender.  You need to think about the important obligations you have to your family and what your paycheck could do for them rather than being given to a payday lender to cover a debt you may have incurred several months earlier.