Pay day loans a scourge, yet still a need

Pay day loans a scourge, yet still a need

Fourteen states prohibit payday financing, calling it predatory. The government that is federal stepping in, too. But also for people who require the cash, you can find few options.

A trio of outsized blue guitars mounted on a telegraph pole face onto the fertile farmlands of the Mississippi Delta at a highway junction outside town. In blues mythology, this crossroads is The Crossroads, where guitar player Robert Johnson traded their heart into the devil for musical genius. Today it’s a stoplight on Highway 61, a sun-baked strip of discount malls, gasoline stations, fast-food joints – and half dozen shops providing quick money..

A high-school teacher, it’s a strip of debt and shame and heartache for Jennifer Williams. For decades, she’d invest every payday going store to shop, wanting to continue repayments, even while sliding deeper into financial obligation. At one point she owed thousands of dollars to nine loan that is payday in three towns.

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