This Article is About
payday loans
payday loan industry
high interest loans
old adage
brick wall
money changes
loan companies
simple answer
makeover
traps
Ohio Payday Loans, Alive And Well
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Ohio Payday Loans, Alive And Well

Even when lawmakers vote to create laws to stop payday lending companies, they still end up on top, and Ohio payday loans are still alive and well, even though they were voted illegal in 2008.

How can they still be alive and well?

Lawmakers in 2008 did vote to make short term high interest loans illegal, but did nothing to enforce the laws, and even created loopholes that the payday loan industry jumped on.

Many legislators turned a blind eye to the laws, and before you know it these loan companies were again thriving in Ohio.

How could they do this?

It is a very simple answer, and that is money of course.

The payday loan industry has dumped over $465,000 to legislative campaign accounts in Ohio in the last four years, and there seems to be no end in sight.

The law makers trade favors for money, and it works just fine for the payday loan industry.

The old adage "money changes everything" could not be more evident than in this situation.

Tied hands

Because so much money has changed hands and so many favors have been promised, the lawmakers and legislators who do want to make changes are up against a brick wall in getting anything even introduced, not to mention passed into law.

One would think that enforcing the laws that already exist would be a good place to start, but so many loopholes have now been created that it would take a complete makeover to get it right, and current legislators will not let that happen.

How about you?

Do you take out payday loans? Are you one of the many many people who have been duped by these companies? Are you one of the many many people who may be trapped in one of these companies debt traps?

If so you already are aware of all the phone calls, threats and tactics these companies use to try to collect a debt with them.

Rest assured if any of the above applies to you, as you are far from alone in your situation.

Help is out there!

People do have one thing on their sides that will not go away as long as these companies keep trapping people, and that is a good payday loan consolidation company that cares.

These guys will do everything in their power to fight for you and get you back on track!

Summary

Next time you think about taking out an Ohio payday loan or one in any other state for that matter, just think about how many lies, corruption and misuse of your tax dollars are involved in this industry.

Make the right choice and stay away from them.

Do you have any stories to tell? Please share them with us, and maybe you can help spare someone some similar grief!

Feel free to share this article and leave any questions and comments below!


Street Talk

What kinds of threats do you usually see coming from Payday Loan places? I can't imagine they threaten to break your legs (like a loan shark), but then again, I've never dealt with them.

Reply
  about 6 years ago

The biggest threat from them is your bank account. Once they have your account number and routing number they will keep banging your account until you either close it, which is hard to do if it is carrying a negative balance, or until they get their money.You can call your bank and block them but they will just send a request under another name. they know all the tricks. They will also threaten legal action, even though most of the time they can not do much legally, it still can scare the average person who does not know this.

Reply
  about 6 years ago
Ivy Glenn  

Wow. Great information. Well presented. I am glad you included a way to get out. My husband and I worked for several years to pay off every single loan we had except for our mortgage and auto loan.

Reply
  about 6 years ago

Awesome job! It is a great feeling to see them loans go away. :)

Reply
  about 6 years ago
Leonardo2  

the best thing is to get out of debt immediately...

Reply
  about 6 years ago

Works for me! Thanks for reading Leonardo!

Reply
  about 6 years ago

Lawmakers trading money for favors? I'm shocked!

Reply
  about 6 years ago

LOL, now I know you are being sarcastic, right? :P

Reply
  about 6 years ago
Anna Ware  

Those loans need to go. If they didn't excist they wouldn't be an option.

Reply
  about 6 years ago

I totally agree with you. Thanks for commenting!

Reply
  about 6 years ago
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