Cash advances.

Basically, a financial form of committing suicide.

There are more of these types of payday loan stores, especially in poorer neighborhoods. So much so, that they have become hotbeds of activity on payday.

What cash advances are, in laymen’s terms, short-term loans that ideally are meant to get people out of quick emergencies, such as a car repair, medical bill, or house repair. That’s what the original intent for these types of loans. They weren't meant to be long term financial fixes, such as a home loan or a car loan. That is a stand-alone reason why these loans have the HIGHEST APRs, and it ain’t close. They can range anywhere from 36-40% to as much as 3,733%.

Three. Thousand. Seven. Hundred. Thirty-Three. Percent.

The markup at a mini-bar at the nicest hotel in Vegas isn’t even THAT much.

Now, if used as they were ideally meant to be used, the APR really isn't that much of a factor. But, many use these short-term loans has a second source of income. According to the Pew Charitable Trusts, most use these loans to cover ordinary living expenses over months, not accounting unexpected emergencies over the course of weeks. It gets even worse! The average borrower is indebted about five months of the year.

Five months.

A pregnant woman would have some amplified morning sickness both physically and mentally in half of her pregnancy. Let’s hope Junior isn't affected negatively.

The criticisms the payday loan industry are plenty. Not only is it de facto institutionalize racism (most users of these loans are of black or Hispanic descent), but they have the power to BLEED YOU DRY with the outrageous APRs they impose. They also manage to put the power greatly into the lender. A report from the Federal Reserve Bank of New York, lenders are more than willing to roll the loan over at the end of the period upon payment of another fee. This industry operates the same way that cigarettes do: they’re addictive, can’t have just one, and they are extremely bad for you.

Proponents of minimal regulations of this industry indicate that other methods have already been sought out by borrowers. Making matters worse, people could be forced to illegal sources if not for payday loans. It’s being stuck between a rock and a hard place, and you will be put in a tough spot with either option.

Which means, advertisements like this, need to quit making it out to be a convenient thing to get a payday loan.