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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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Aktuelle Version vom 29. August 2013, 10:04 Uhr

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