The slide in home values along with gasoline averaging near four dollars a gallon has some folks scrambling for cash.
With Triple A reporting for the 20th day in a row gas prices reaching a record high...the search by some to pay their bills has them looking to payday loans.
But as News 25's Syreeta Baker Reports, community group is warning the public to beware of the cash advance.
With painful fuel prices and a slumping housing market some say the draw to borrow money from cash advance places like these is strong.
"The average income of a person who goes to pay day lenders is probably that 25 to 35 thousand-dollar income range," says Tony Pierce.
As Vice President of the Central Illinois Organizing Project, Pierce is a warning consumers to avoid payday loan business until loopholes in the Pay Day Reform Act of 2005 are changed.
"The payday lenders simply restructured their loans because that focused on loans 120 days or less."
Accountant Bob Kaiser says for the right person cash advances are a practical option for those who need money now.
"Somebody who borrows 100 dollars for a week or two and pays it back and does that two or three times a year.
I'm not talking about those people the pay day loan is a reasonable way for them to handle a small infrequent emergency."
But Pierce says even if it's an emergency situation payday lenders charging upwards to 400 percent interest on a loan is equivalent to loan sharking.
He's hoping the House will pass a bill that will eliminate what he calls exorbitant fees, which hurt consumers who are already struggling.
This week the Illinois House is expected to consider a time limit on fees and interest rates for payday lenders.