...the fact is if you are living above your means you shouldn't be taking money out with these loan sharks anyway...they charge too much interest. Borrow money wisely & budge your money well. Go see a financial adviser or a debt adviser if you're having trouble with your finances.
OK...if you are not a CA...do you work for a CCCS, or a financial planner, or are independently wealthy--or think that you will beat the odds forever--and are using the "moral" argument as a red herring when what you are talking about is only a failure to complete a contract with a business according to its terms which is an amoral situation (absent proof of fraud or other crime)?
Or, in this case, being "guilty" of the "crime" of having too much week at the end of the money?:
1.) First off, for some people "living above their means" means living at all; they make too little money to even pay minimal bills and not be on the street and cannot, for good reason, work a second job, etc.. Others can pay those minimal bills...until something goes wrong as it always will sooner or later? Any such argument based on this viewpoint is nothing but bigotry and class warfare in disguise and can easily come back to bite the proponent later.
2.) The assumption that it's possible for people to always get a loan at reasonable terms almost instantaneously? If the place is reputable, that simply will NOT happen, even if the credit rating is good. Financial avisors and/or "debt advisors" (CCCS) are NOT going to stop people from going to the loan sharks:
People who are caught by the payday loan industry (and their close cousins) all too often may well be--or are too scared that they are--that one loan away from eviction or having the power shut off within a day or two...and may not be able to negotiate another solution in time and are acting in fear [even if they should know better].
3.) Then--since cash flow problems will almost NEVER resolve in only one pay period for all but the famous 1% of payday borrowers (the ones who manage to pay on time)--they are caught in a situation where even going into contract default for non-payment on the payday loan itself is not easy to achieve
without the consumer ending up in even worse trouble financially, with their financial institution...or even the creditors they took the loans out to pay in the first place.
4.) The only real solutions to the payday loan mess and collection abuses by these lenders and their assigns? It seems that this might not be possible. The only end in sight MIGHT be to get true NATIONWIDE bans...enforced to the letter... on businesses engaged in "loansharking", including payday loans (state bans--where they exist--are often only bans on unlicensed, usurious lenders of any kind, not payday lenders and their "loanshark" ilk specifically). In NO case should owing anyone money justify ill treatment by those who want to collect the debt...and payday loan issuers and their CAs almost always honor this only in the breach.