I have a friend at work who I try to help. I can't count the number of times or ways I've tried to tell him pay day loans are bad news. The one time he came into some money (by cashing in a part of his 401K) I suggested he open an account at a credit union or even walmart (he lives 3 blocks away) but he ended up opening a "savings" account at a pay day loan shop because it was just around the corner.

It is horrible and sad but the reality is there really is no helping some people...