Ask people about pay day loans and they will tell you, and not in so many words, that they are legal loan sharks. They might as well come with guns blazing. When they start hunting you down, they come with guns blazing and woe unto you if you cannot pay up. They might as well be loan sharks who want to break your legs because when people get caught up in the vicious pay day loan cycle, they feel like they have had their legs broken. The threats of repercussions are countless, ranging from taking over your bank accounts, to taking half your paycheck, to reporting you to credit agencies among others. Might this be why people are still using the back street loan sharks? Better the devil you know? In the end they are still providing the same service aren't they?