Military Payday Loans - Shoot 'em Up
In the great big world of payday loans you will probably hear a lot of personal stories of advances gone wrong - horribly wrong. You will hear about the woman who ended up paying $7000 for a $500 advance, or about the family forced to sell their home because they had too many payday advance loans to handle. Or you'll hear about military payday loans and a shiver will travel down your spine. Upwards of 10% of all active duty personnel are forced to seek financial counseling because of payday advances, creating a state of overall military unreadiness that some officers have claimed to be of National security concern.
Military payday loans are not so bad
There is nothing special about military payday loans - they are not more expensive, they are not easier to qualify for. They are not supported by any branch of the federal government outside of greed, and they are the exact same loans civilians across the country are getting every day by the literal millions. So why all the hubbub over military payday loans?
- For starters, the facts are surprisingly poignant - 10% of all soldiers using quick payday loans, lenders claim to be connected to the military, and high levels of check advance opportunities immediately outside military bases.
- But more importantly, military payday loans target a specific audience of great importance - the US Military.
Say payday advances are a scourge of the low-income populations and that will mean absolutely nothing - everything in our high-cost society is a scourge to the people who cannot afford it. Yet with the US military we are seeing a specific demographic successfully and powerfully targeted for a specific product - payday advances - that have specifically dire consequences when abused. Military payday loans aren't so bad, but the common errors and practices of military payday lending are.
Where military loans take a turn for the worse
This is a prime example of what will happen when the wrong people get their hands on instant payday loans. Military personnel fall very nicely into the target audience of the payday advance: young, hard-working, financially inexperienced, low-income spendthrifts that really have no where else to turn. Soldiers take out the same online payday loans and in store financial assistance as everyone else - but unlike everyone else they lack the experience and income to pay them back effectively. Cheap payday loans should be considered with a keen understanding and a working knowledge of the process - and thats what Payday Advance Help provides, understanding and knowledge of payday advances.