I'm not so much of a free-market purist (i.e no regulation) as a freedom of choice purist. I don't like seeing anyone get taken advantage of needlessly so if there are better alternatives for people I would want them to know about it. So, is the problem here that people just don't know about the alternatives or is it that they see the cost of the extra planning and paperwork as greater than the cost of the premium? I would also think that proper use of a payday loan would be in circumstances you didn't plan for, but some people will make bad choices and use them recklessly.