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"Payday loans are marketed as an attractive short-term option, but that will not reflect reality. Spending them off in only fourteen days is unaffordable for some borrowers, who become indebted long-term," Nick Bourke, Pew's expert on small-dollar loans, stated in a prepared statement.<br>http://uskbf.org/so-how-exactly-does-a-cash-loan-function/, [http://uskbf.org/so-how-exactly-does-a-cash-loan-function/ homepage]<br>The Neighborhood Financial Providers Association of America, friends representing payday lenders, countered that the Pew report lacked context. "Short-term credit products are an essential fiscal instrument for individuals who want funds to pay for an unexpected expense or manage a shortfall between paydays," the association said in a statement. "In our present economy and constricted credit marketplace," the statement continued, "it is crucial that buyers possess the credit choices they want to deal with their fiscal challenges." The typical fee billed by organization people, the statement said, is $10 to $15 per $100 lent.
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"Payday loans are marketed as an appealing short-term alternative, but that will not reflect truth. Spending them off in only two weeks is unaffordable for some borrowers, who become indebted long-term," Nick Bourke, Pew's specialist on small-dollar loans, stated in a prepared statement.<br>http://Uskbf.org/1-hour-money-advance-improvements-are-easy-to-get-and-easy-to-payback/, [http://Uskbf.org/1-hour-money-advance-improvements-are-easy-to-get-and-easy-to-payback/ cash advance loans]<br>The Neighborhood Financial Services Association of America, an organization representing payday lenders, countered that the Pew report lacked context. "Short-term credit products and services are an essential financial instrument for individuals who want funds to cover for an urgent expense or manage a deficiency between paychecks," the organization said in a statement. "In our present economy and constricted credit market," the assertion continued, "it is important that customers possess the credit options they need to manage their financial challenges." The typical fee charged by association members, the declaration said, is $10 to $15 per $100 borrowed.

Version vom 12. August 2013, 00:22 Uhr

"Payday loans are marketed as an appealing short-term alternative, but that will not reflect truth. Spending them off in only two weeks is unaffordable for some borrowers, who become indebted long-term," Nick Bourke, Pew's specialist on small-dollar loans, stated in a prepared statement.
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The Neighborhood Financial Services Association of America, an organization representing payday lenders, countered that the Pew report lacked context. "Short-term credit products and services are an essential financial instrument for individuals who want funds to cover for an urgent expense or manage a deficiency between paychecks," the organization said in a statement. "In our present economy and constricted credit market," the assertion continued, "it is important that customers possess the credit options they need to manage their financial challenges." The typical fee charged by association members, the declaration said, is $10 to $15 per $100 borrowed.