It's funny, while I have no idea what these paday loads are (assuming short term small loans?), when we were buying a house back in 2004 I think, went to a bunch of banks, trying to figure out ho much we could borrow so we could figure out what we cold buy (banks here are funny, they seem to want you to find a house you want first then see if you can borrow that much). My old bank went "sure we'll lend you $AU500K". We're all Wow thats amazing, but seriously, we don't want anywhere near that much thanks, that much is silly and went a bought a house for $170K.
Problem is that it seems a bunch of people go through the same thing, but think, Ye haw, $Xxxxxxxxx, we'll take it! Then 3 years later they are totally screwed.
Yes the companies are wrong for lending people that much, but really, the people are so stupid for taking out loads for stupid amounts of money.
No idea if that has anything to do with this thread sorry...but the beers tell me it does