I have been given the chance to discuss Payday Cash Advance Loans and the trends. My opinion is that while they do perform a necessary service providing loans for emergency reasons, it can foster an endless cycle of borrowing before payday and paying it back only to havethe potential for it to become a cycle.

Its interesting to read that my thoughts are confirmed by an article Payday Loans: Have Borrowers Become Addicted? In which it discusses how quick and easy it is to get approved for a loan and that borrowers dont take into account the interest rate with some loans having a staggering APR of over 5000%. Where the borrower can not repay the whole amount they can be offered extensions which as well as the interest charge also often carries hefty penalty fees.

But at the end of the day despite the negatives I see the trend of Payday loan companies to continue. Its obviously a case of supply and demand and as long as the demand is there together with what I expect is considerable profit to be made then I see the trend continuing failing government regulation.

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