This is what we call the bottomless black hole of debt. There is no getting out from under debt using pay day loans.

It always starts off with this one time. You need an advance of a few bucks to hold you over until Friday when you get paid. You spend that money before you have it. Then, pay day arrives, and they want their money, and then some. That “and then some” is called interest. We call it usury.

So now you’re in the hole again. You had less money this week because of the pay day place taking their cut, and you pre-spent this week’s money. Gas isn’t getting any cheaper, so Tuesday comes around, and you’re back at the same Pay Day Loans place. But this time, you showed up a couple of days earlier than last week. Hey, the budget is tight, and you need some cash.

Well, guess what? The folks at the pay day loan place will gladly give you your money early. It would be their pleasure. Because it’ll be your pain when you’re paying through the nose in interest, as this racket takes advantage of you and your livelihood.