I see little difference between payday loan companies and most other financial institutions. We're maybe all quick to condemn but we're quite happy getting interest on our bank savings without worrying about where that interest comes from. What is scandolous is the the third world debt which banks, governments and ultimately those of us in the so called developed world are profitting from.

I would disagree. Remember having a debtor who doesn't pay is no good to a lender.

How are we to decide who is capable of making their own decisions? It's clear "payday" lenders have a role and reason to exist, so how are you to decide who can use them?

It's a quandary isn't it.

The need for some form of proper regulation is not something made up on a rugby league message board...it's a real problem that is being discussed at central government level.

"I/we" don't decide...but those elected to look after us have to.

Making sure the outlay, return and ability to meet the repayments have to be balanced and fair. Does that seem reasonable?

Fair enough, and a better point than where we started.



Yes, depending on what you deem fair

of course that also must apply to both sides.

We don't have to decide on an individual basis, however we need to ensure that the bulk of people who are clearly in need of protection are protected by making the companies responsible lenders, as they have done with the banks.

Also, I think you will find that a creditor would rather have someone who borrows £1k a year and pays £200 interest, than someone who buys a new Porsche on his card every month and pays 0% interest due to always making his payments on time.

And why do you think they aren't?



Both of which would be debtors who pay. As I said.
(If that were a credit card BTW, the card provider would be making much more money on that deal than £200!)