Payday loans to the unemployed

Now that the Federal Government either puts the money directly into a bank account or loads up a credit card, it’s easier to collect on an unemployment payday loan.

People want to take a moral stand on this, but that’s not the point.  They’re adults.  They can make their own decisions.

Ignacio Rodrigues, a clerk at Van Nuys payday lender Ace Cash Express, said about a quarter of first-time borrowers he sees now use their unemployment checks as proof of income.  This looks like a good business development tool, if this is indeed the case.

This made it to the LA Times, in an article titled “Payday lenders giving advances on unemployment checks.”

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