New Anti-Poverty Coalition to Demand Dallas City Hall Zone Payday Lenders Out of Business

Payday advance is definitely a very efficient and efficient way of conference the surprising scenario which requirements for money especially when the sun is still to increase on the payday advance.

As long as they banned this automotive identify in addition to cash advance financial institutions, there'a about to become a helluva great deal of empty living space with Lemmon Ave.

Well, if they do away with payday lenders, they will just put more loan sharks in business. People need access to short term loans, and the best way to encourage an unregulated illegal activity is to regulate the legal alternative out of business. This measure will mean higher interest rates for the borrowers as well as more broken kneecaps to be fixed at Parkland on the county tab.

Question for all: This position makes no sense. I have never heard a single anti payday loan position that passes any sort of logic test.

1. These are free will loans: Borrow from friends/family, employer advance, payday loans, rob/steal, sell drugs, prostitution, etc. How does removing a choice benefit anyone? Why, not, as one poster suggested does the church not make loans to these folks? Let me guess...

2. I can name 10 fees that are calculated as an APR that are far more common and more expensive than a payday loan. Why not focus on fee like bounced checks, utility shutoff, or negative credit reports? A negative credit report can be 1000x higher as an APR if it effects you home loan rate over 30 years.

3. The rates are set by what makes money. If one provider could do it cheaper and still make money they would - it is called basic economics. More competition will in effect drive prices down. A rate cap will constrain access to credit...again, this is basic stuff that you should be able to understand.

4. How about focusing on education, financial counseling, job training - these things actually fight poverty. Payday loans provide credit, options really, for people who NO ONE ELSE WILL WORK WITH.

Please provide more logic on why regulating payday loans makes sense:

Thanks you

How are is this helping poor folks, taking away their credit options? This coalition should create alternate forms of lending that are up to its own high standards. Instead, they put all their energy into banning businesses that actually lend.

Robert, just to be clear, our goal is not to put them out of business.We want to close the loophole in state law that allows this industry to charge anywhere from 300%-500%+ (disguised as 'fees'). By doing this, they are able circumvent state usury laws. Many of the people who get trapped in a cycle of debt that leaves them in a situation worse than the one they got the loan for in the first place. These loans are 'rolled over', in many cases, several times if they can't be paid off in the assigned period (usually two weeks). And in more cases than many realize patrons get other payday loans to pay off the original loan.

We are seeking the zoning ordinance to because their clustering, particularly in economically challenged areas because of the nature of the business, but because they choke out other forms of economic development.

I know some of your readers don't agree. But in neighborhoods where these businesses proliferate (in one case with more nearly 20 on one street, it is not commerce, it is exploitation.

No mention that Jerry Allen is a banker.

Must be nice to just zone your competition out of business.

How is this when Haynes is supporting Rawlings, who made a killing off of payday loans and only sold it when he got the homeless gig?

To clarify our brand, Robert, it's CitySquare, not Four Square. :) Thanks for the coverage. And the goal to lift 250K oiut of poverty by 2020 is a goal shared by the Anti-poverty Coalition and the United Way of Metro Dallas. UW structured part of its annual fund allocation around this ambitious goal. The solution will combine many approaches and tactics. This is an important step.

I've been repaying a payday loan for awhile now, something happened beyond my control, and with no options, I got into their debt loop. I feel like I see the carrot dangling in front of me, but I'm on a treadmill, and getting nowhere fast. Credit is maxed out, options are too few and too far between. Not sure when I can get out of it.

Their business models are, by design, financially painful, while saving your ass at the same time.

For those types who like to impose their sanctimonious beliefs over my financial well-being (like most churches and republicans seemingly like to do), what would you do if you had no other alternatives when your world comes crashing down on you like a ton of bricks?

Taking away the options available to us poor-folk does nothing to help.

I'm just not comfortable with the idea of zoning perfectly legal businesses out of business.

I think Mr. Wilonsky meant "CitySquare," not "FourSquare." But I'm sure people will be checking into the meeting through Foursquare.

I think Mr. Wilonsky meant "CitySquare," not "FourSquare." But I'm sure people will be checking into the meeting through Foursquare.

I can only guess that for some people that are financially literate, but also happen to be poor, these pay-day advances can be a god send, but those types of "customers" at payday advancers are in the minority. Here is how you address the problem: change the maximum legal interest rate in the state of TX to get rid of what are essentially usurious lending practices.

Other states cap the level of interest that these places can charge, and believe me, it is still high enough to make it a profitable business and pay day advancers are still everywhere in those states. But, the way it is setup here, if you make one mistake in paying back your loan, you will pretty much be in financial ruin since the interest can be 10x what it is in other states.

i've gotten three of these loans in the past year, and i can tell you from experience that they were LIFESAVERS! my car got totaled in an accident on i-35 and the insurance company of the at-fault driver didn't pay me enough to get a reliable car because they knew i was desperate and would take whatever they gave me. well, i still had to rent a car for the weekend and my credit is shot, so i needed cash to pay for it. thank goodness i could get cash immediately and was allowed to pay it off over 10 installments otherwise i would have lost my job and then who knows what other bills i wouldnt have been able to pay. what if payday lenders went away?! or if they couldn't make enough money off of people like me to give me loans because they have to charge rates like the banks do? please dont take my options away from me!

I wonder how many people who object to pay-day lenders have ever been in the situation where you need to get your car fixed before your next payday or you lose your job? Will they loan the customers of these places money without any collateral?

I have been in the position to need a payday loan. Due to bad decisions I made, I had bad credit and needed to get my car working or I was going to lose my job. Good luck on getting a bank to loan $300 for a week or two (if you are poor). DART does not run 24/7 and to everywhere that there is work, so it is not always an option. The key is to not borrow more than you need and just pay it off as quickly as possible. I have been poor and know others who have been poor (and are poor). There are times when you can't avoid being poor. But, the decisions you make can keep you there. Do you spend money on beer and tobacco, or do you pay off your debts? Do you spend your time watching TV or trying to learn new skills that will get you more money?

A different take on payday loans - http://tinyurl.com/yasybfu

Well, at least it might keep 2500 working-class people from falling into poverty.

To paraphrase author Colson Whitehead: Saying you own a Payday Loan business can be translated as you "grease the gears of hell with the blood of poor people."

It's too bad the churches in those areas don't make small loans to their congregants who desperately need them. They could pay them back thru the collection plate. It's not like anyone else is going to lend them money.

Those pay day advancers are no different than loan sharks. Pay day loans at 1000% anual interest rate. I think the only difference might be that most of these places don't have an italian stereo-type named Paulie with a louisville slugger that breaks your knee caps if you miss a payment, but I'm guessing that the only thing stopping them is that at least that part of the business is now illegal.

If they shut down the auto title and payday lenders, there'a gonna be a helluva lot of vacant space on Lemmon Ave.

The sooner those bloodsuckers are our of biz the better. I've known plenty of people who got suckered into those payday loans. They have all hated their life since.

I think its going to take a LOT more than this to reach that pie in the sky dream of getting 250,000 people in Dallas out of poverty.