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14 April 2008
Will They Ever Learn?
I recently wrote an article about Virginia tightening their payday loan regulations. This got me to wondering if
they ever will learn? I find it amazing that State and Federal Governments are missing the boat on payday loans.
They feel like they have to protect me and everyone else from the mean old Payday Loan Lender. While I feel regulation
is necessary, they are missing a golden opportunity to educate the people who are using payday loans.
Citizens would be better served if the government forced payday loan lenders to provide financial education
or information. Limiting the number of payday loans only puts a bandaid on the symptom. It does not get to
the root cause of the issue. Which is lack of financial knwledge. I know, I was there. I know what it is like to struggle
financially due to my own lack of fiscal responsibility.
What is even more amazing, the government has already produced hundreds, if not thousands of articles that can
help you.
Here is an example of what you can find. I found these in 2 minutes.
The government has pamphlets and publications already available for the asking at
www.pueblo.gsa.gov
Or how about this one?
Click this link to see a government
publication on Managing Your Debts - How to Regain Your Financial Help.
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