It seems that the days where we could get a cash advance payday loan might be coming to an end. The Ohio legislature just passed a bill that puts a ceiling on what cash advance payday loan centers can charge, in addition, there will limits on how many loans a customer can get per month. This measure will negatively affect the bottom line for cash advance payday loan centers and might drive them out of business. As of right now this bill has not yet become a law but if it does all cash advance payday loan centers all over the country might be in jeopardy as other states may follow suit. A lot of people complain of the exorbitant interest rates that these payday cash advance centers charge, but for many people, these places are their only option. If someone needs money short term for an emergency, it is a lot cheaper to get money from a cash advance payday loan than to have a check bounce. If someone bounces a check they could be charged up to fifty dollars and then come the overdrawn fees. With a cash advance payday loan you pay about s fifteen dollars for a $100 loan which a lot less then fifty. This issue is about our freedom to choose and to live our lives the way desire. If we don’t do something now we will loose our power to choose later.
