America beware. There is a new form of indebtedness upon us.

America beware. There is a new form of indebtedness upon us. Every since the cost of living has risen to an all time high; effected by “9-11″, Tusami and Hurricane Katrina the economy has consumed most Americans bankroll. Dividing us into two classes, upper and lower. The have and the have nots so to speak.

Minimal wage hasn’t changed in ten years yet there has been more layoffs and foreclosures than anytime in history.

It is becoming increasingly difficult to meet our monthly obligations and that is where; “Money Tree”, “National Check Loans”, and the like comes along to bridge the gap between paydays. Making it possible for us to maintain our standard of living.

To make things even worse, most people don’t have one loan but two or more at any one time. Spending their week’s end either paying off the loan or rolling it over until such a time should arrive they can pay them off.

If you fall behind or find it difficult to pay, this could result in months of rolling it over or paying it back and then coming back for another loan because who can afford to live on what you earn. Should you have trouble paying it back or getting in on time you might find yourself in the same situation as those in the olden days; being worked over by a loan shark.

Some of the loan places charge 391.05% interest and you can borrow up to $500 for $75 in a two week period. If you owe more than one you could at the bear minimum find yourself paying an extra $300 a month just for the privelege of using their money.

That in itself is highway robbery. There has got to be be a better way to live and pay bills however at this time a solution hasn’t presented.

So, for the time being borrowing from payday to payday remains a quick fix until another answer comes a long.