Payday Lending-compounding debt cycles or filling a need?

Wednesday 17/07/2013 08:36 GMT - Much has been made of the now infamous Payday lending schemes which emanate from Financial Institutions across the globe, the clear risk that their existence merely serves to compound debt cycles for the poorer members of Society - there have been varying degrees of response to the dealings of these entities, ranging from all-out declarations of war to promises to rapidly enact legislation which will facilitate better regulation of Payday lending schemes. Nevertheless the fact that a number of these company have been hugely successful is indicative that perhaps they are filling a sorely needed role.....and once again, regulators are behind the wagon and with these promises of greater regulation not much has been said about viable solutions to service the obvious need for more reasonable lending standards......DO YOU FEEL THAT THERE IS A ROLE FOR PAYDAY LENDING COMPANIES/SCHEMES AND THAT IT IS POSSIBLE TO BALANCE SENSIBLE CREDIT CONTROL WITH THE PUBLIC DEMAND FOR BETTER ACCESS TO SHORT-TERM CASH FLOW?