Tuesday, April 25, 2006

Pay Day Loans – Loan Sharking Reinvented.

Rock Hill, NC April 26 (BBD) – We see advertisements for quick cash loans every day. These loans can be pay day loans, cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans. Typically the borrower rights out a check for the amount of the loan plus a fee. This fee can range from 10% to 40% of the loan and the borrower usually has two weeks to pay it off in full. Most can’t pay it off in time and end up owing, in some cases, more in fees than the amount of the original loan.

Some states like South Carolina have placed limits on the fee amount allowed. South Carolina law limits this fee to 15% of the amount borrowed. If you were to look at this in a yearly APR it would be 390% interest. Most states have usury laws which limit a yearly rate to 30% or under. Currently Pay Day stores slip by by stating that loans are paid off in 2 weeks so no violation has occurred and that they are providing a much needed service to people that have no where else to go.

The actuality is that most of these borrowers cannot repay on time and so they are forced to pay the interest and take out another loan to cover the principle. Currently the average borrower in South Carolina takes 10-15 loans to payoff. These statistics are similar in other states. Which means the borrower will pay $400 - $500 in loan fees on a $400 loan. This is usury and should be illegal as it is not helping anyone. It is predatory lending that just gets borrowers in deeper debt than before.

“Some will say, that little man has to have somewhere to go,” said state Rep. Eldridge Emory, “Butif he gets money this way, he’s just digging a hole deeper and deeper, and he’s not going to get out.”

Several states like North Carolina have currently banned this form of predatory lending. Others are beginning to consider legislation to further control and possibly curb pay day loans. Still more needs to be done.

David Maillie is a chemist with over 12 years experience in biochemical research and clynical analysis. He is an alumni of Cornell University and specializes in biochemical synthesis for public, private, and governmental interests. He holds numerous patents including his recently awarded patent for headlight cleaner and restorer. He can be reached at M.D. Wholesale: http://www.mdwholesale.com or by visiting http://www.bestskinpeel.com

THC Patch and Gum Right Around the Corner?

Doctors have long known that marijuana can be useful in the treatment of
emaciated and anorexic patients from diseases like chemotherapy and AIDS. Many doctors have and still prescribe marijuana - yes it can be obtained legally through a prescription. Now, the government is doing research into a patch or possibly gum, along with the Marinol pill and other similar treatments to treat more malodys like gulf war syndrome, migraine headaches and similar.

The Food and Drug Administration has recently granted several researchers from large universities and research centers from Harvard to Maryland approval to study the effects of THC (Tetrahydrocannabinol) in various delivery methods. Some of these The oral methods have recently been approved and released for treatment of chemotherapy and AIDS related weightloss issues. They, along with injectible and patch and gum or lozenge methods of delivery are now being researched for treatment of migraines, psychological associated diseases (Gulf War Syndrom and similar), and even ADD and ADHD (Attention Deficit Disorder) and mental and psychological abnormalities. The list of research the U.S. Government has recently backed continues to grow.

The U.S. government is giving in to the undeniable fact that marijuana does have medicinal properties that can help patients with various conditions and that it should be made more readily available. Recently marijuana and THC have been brought down to a class 3 drug under the DEA. This will make it easier for doctors to prescribe THC and marijuana and get it to those who need it. The National Institutes of Health and an affiliate of the National Academy of Sciences have concluded that the active ingredients in marijuana can ease the pain, nausea and vomiting of cancer and AIDS (courtesy National Academy Press). Even charitable organizations that long withstood the attributes of marijuana have changed their views:
"The American Cancer Society has always been on record against people smoking tobacco
and marijuana,'' said Allen St. Pierre, executive director of the National Organization for the
Reform of Marijuana Laws in Washington, D.C. This is a way to assuage opponents." The
American Cancer Society is currently funding a three-year, $361,000 grant for research at
the Albany College of Pharmacy.

There is currently only a few choices smoking, oral (Marinol) and injection (Sumatriptan). According to patient research the smoking method is still preferred as the patient feels more comfortable in determining what amount of "high" they receive. The complaints with the pill is that it takes too long for it to have effect. Then when it does take effect the patient is rendered useless for a period of time. This seems to be a delivery problem and being that there are no competing manufacturers the doctor and patient have little choice.

A THC patch or gum could easily solve this problem as these delivery methods, similar in property to smoked marijuana, can easily be removed when the patient feels comfortable and is sufficiently medicated. This would put control back in the patients and doctors hands with more choices. It would also make these medications less expensive and more apt to be accepted by society. The patch and gum are currently in use for smoking control and cesation and are very effective in this delivery method. This is not to mention the cancer factor from smoking is removed making it much safer and acceptable.

It would be believable to assume a THC patch and possibly gum will be available and
through the clinical trials in the next few years. As more acceptance for the medicinal
use of marijuana and THC grows it is possible that it may gain universal acceptance for medicinal use.

David Maillie is an alumni of Cornell University and specializes in biochemical synthesis for public, private, and governmental interests. He holds numerous patents and awards for his patented headlight cleaner and restorer. For more information please visit: http://www.mdwholesale.com
http://www.bestskinpeel.com

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Michigan Car Accident Lawyer