A lot of negative is spoken about the payday loans as they can be easily targeted. The payday loan industry does not cater to the needs of one and all. There maybe some financial problems for which payday lenders are unable to provide the services and there are many people who may not require taking quick cash loans. Some borrowers do avail the low cost payday loans in emergency situations while some are unhappy with the short period of time when the loaned amount has to be paid back. If there is a delay in repayment, the fees are very high which upsets the financial budget and the person falls into a bigger debt trap.

Some writers convince their readers as to how bad the payday loans are. They use words like ‘debt trap cycle’, ‘loans bear higher interest’ or ‘lenders are predators’ to keep people away from borrowing. Probably this writer never required emergency cash or maybe he was asked to write negatively so that people would borrow from bank and pay huge fees for overdraft or the borrowers who were unable to repay on time fell into further debt and gave reports to the writer.

There are a few people who may not have availed these payday loans and them pose confusing questions.

• A person who has never been in an emergency situation will ask that does one really need to borrow against the paycheck as a payday loan.
• Most of the people pay back their loans on time. Some borrowers may not payback on time either due to circumstance or intentionally. This adds to the extra loan fees that is charged and becomes tougher to pay back.
• The person may try to deter the payday loan borrower by telling him that there are other options available to borrow money. One may borrow from a pawn shop against some precious item. Not all may have something to mortgage at the pawn shop nor would they like to spoil their relationship by borrowing from friends/family. Avoid late fees by borrowing from payday loans lenders.
• Another negatively talked aspect about the lenders is that they take undue advantage of people who have bad habit like betting, eating at fast foods etc. The lender are aware of their poor financial management and take advantage by enticing them to borrow and knowing they will delay the payments and earn more interest out of it.

Each person has the right to express his/her opinion. They are free to talk negative about this payday lenders business as they probably never needed to borrow money urgently or heard rumors from other people to form an opinion. Low cost payday loans are a success because this enterprise functions due to the responsible behavior of the borrower as well as the lender. A responsible borrower will payback on time and successfully complete the transaction with the confidence that he can borrow again. A person who fails to repay or delays the repayment falls into further financial problem.