Founder Sherry Tingley Signals Warning Against Payday Loans

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Sherry Tingley Cautions Individuals From Getting Stuck in the Payday Loan Trap, and Offers Practical Steps and Advice on Smart Money and Debt Management.

As more people look for ways to manage debt and find their way back to financial sustainability and security in the tough economic environment, more people are turning to payday loans – a move that Sherry Tingley, founder of business checks leader and principal writer of the website’s finance and management blog, says is often a damaging mistake.

“Payday loans are dangerous options, with annual percentage rates that can be in excess of 200%,” commented Tingley. “A much wiser approach is to seek debt reduction counseling from qualified professionals. Of, if someone is getting loan after loan, then it may be necessary to seek the help of mental health professional, so that this doesn't become an addiction waiting to be fed.”

Tingley’s concern and criticism of payday loans are echoed by a number of non-profit consumer groups, including, which states that payday loans can easily become an ongoing trap, and that consumers are easily deceived by payday loan marketing and sales tactics.

Tingley also advises individuals to take practical steps to reduce their need or dependency on payday loans. These steps include negotiating a payment plan with creditors, transferring credit card balances to lower interest vehicles such as lines of credit, seeking an advance from an employer, or applying for overdraft protection on checking accounts.”

Added Tingley: “The bottom line on payday loans is clear: people should truly try and avoid them. If they must use one, then try to borrow the smallest amount possible, and not to the point where the amount owed can’t be covered by the next paycheck.”

For more information or media inquiries, contact Sherry Tingley at sherry(at)coolchecks(dot)net or 801-683-8320.


Led by its Founder Sherry Tingley, offers a wide selection of business checks from several leading check printing companies. The company’s small business and personal finance blog ( features a wide selection of practical articles, advice, insights and tools for small business owners and individuals.

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