Many consumers can pay their bills on time. But sometimes, they struggle and other times, they just can't make ends meet. They're falling fast, but lucky there's a net there to catch them - in the form of nontraditional credit lines. Short term loans offer many advantages for consumers. They offer cash in small amounts - just enough to pay that overdue bill and avoid overdrafting a bank account. According to My Loans Consolidated, the loans are almost instant and no collateral is needed, which can't be said for other forms of lending. Some states, however, are moving to ban or ruin business for short term lenders by capping their maximum interest rates at approximately 36 percent. Dan Robinson of the Hattiesburg American in Mississippi argues that removing these businesses from the financial landscape takes away a much-needed lifeline for consumers. He questions legislators' belief that they work in the best interest of consumers. "The idea that consumers want fewer financial choices, that they don't want access to short-term small-dollar loans, that they want a Jackson law firm to help them figure out how to manage their money, is absurd," he writes.