MissNancy's Blog

The payday loan industry has been the key target for corrupt politicians, from all sides, seeking an increase in voter support at the expense of what’s best for the general public. Governors of several states including, Georgia, North Carolina, and Oregon completely drove payday loan businesses out of their states. The negative effects of driving out payday loan companies from these states, appears to have not been the best idea for its’ citizens. For instance, in Georgia, the bankruptcy filings, bounced checks and foreclosures all grew overwhelmingly after the cash advance option was taken away from them. In spite of this downbeat information, following the closure of payday loans in these states, several other governors continue to try and follow suit. Leading national politicians, such as presidential hopeful Barack Obama, are now making it their mission to eliminate the industry completely once and for all. Should such efforts be judged successful, the possibility is very real for increased unemployment rates, more debt, more foreclosures and an even more crippled economy.

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