Against Prop. 200 – by Craig Harris – Oct 12, 2008

There was a time when Tamara Sisk was a payday-loan addict.

Her dependence on getting quick and easy short-term loans with high-interest rates was so severe that at the end of 2005, she said she had nine loans more than $3,000 with numerous payday lenders throughout Mesa.

“I got into such a circle of a mess, it was incredible,” said Sisk, a marketing director for a Mesa retirement community. “I couldn’t pay any other bills because I was paying off payday loans.”

Sisk, 46, said her finances got so bad she filed for bankruptcy and swore off payday loans.

Today she’s actively opposing Proposition 200.

Sisk said while the proposition will make some changes to lending practices, it allows payday lenders to charge 391 percent annual interest.

“They are preying upon people who are already in a vulnerable position and don’t have a lot of choices,” Sisk said. “They make it so convenient. . . . When you walk out of one of their places, you are pretty much guaranteed you will walk out with cash in your hand.”

vote early. vote by mail. early voting. find your polling place.