Monday, July 31, 2006

A Look at the Real Military Payday Loan Problem

By J.J. Cameron
Payday Loan Writer

The opinion of a recent letter to the editor of The Providence Journal doesn't give the okay to military payday loans - but it does focus the bulk of the problem elsewhere. To paraphrase: 

While many critics believe the instant payday loan services should continue to serve the military community within certain guidelines, this seems to miss the real problem.

American soldiers and sailors use these companies because their pay doesn't make ends meet. Having served for 19 years in the Army Reserves (think of the money you're saving because they didn't let me finish my 20 years), I can speak with authority on the low wages for the people responsible for guarding our nation's freedom.

Some of our service people are fighting and dying for less than $20,000 a year. Meanwhile, their families have to find creative ways to save money, scrimp, and work extra, just to feed the kids. And when the money falls short, the predators lurk outside the gate, ready to take advantage of the situation. These payday loan operations are nothing more than war profiteers - and the U.S. military should solve this problem by paying its soldiers and sailors what they are worth.

To look at the current pay scale, you would think our government views our soldiers and sailors as worthless, and the technology they carry as far more valuable. Technology doesn't stand guard when the barbarians are at the gate; soldiers and sailors do. It is about time we paid them what they are worth. 

- Derek Tabor 

Until Mr. Tabor's points are considered and wages are raised, military payday loans will remain a necessity for many families.

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