"Payday Loans Are Promoted As An Appealing Short-term Alternative, But That Does Not Reflect Truth. Spending Them Off In Just Two Weeks Is Unaffordable For Most Debtors, Who Become Indebted Long-term," Nick Bourke, Pew's Expert On Small-dollar Loans, Said

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“Payday loans are advertised as an attractive short-term option, but that does not reflect truth. Spending them off in only two weeks is unaffordable for many money lender Singaporeors, who become indebted long-term,” Nick Bourke, Pew’s expert on small-dollar loans, said in a prepared statement.
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The Community Economic Services Association of America, a group representing payday lenders, countered that the Pew report lacked context. “Short-term credit items are an important financial instrument for individuals who want funds to cover for an urgent expense or handle a shortfall between paychecks,” the association stated in a statement. “In our current economy and constricted credit market,” the assertion continued, “it is crucial that buyers possess the credit choices they need to cope with their fiscal difficulties.” The typical moneylender Singapore charged by association associates, the statement mentioned, is to per 0 lent.
“Payday loans are advertised as an attractive short-term alternative, but that will not reveal truth. Spending them off in only two weeks is unaffordable for most borrowers, who become indebted long-term,” Nick Bourke, Pew’s specialist on small-dollar loans, said in a prepared statement.
http://uskbf.org/ways-to-get-a-quick-cash-advance/, cash advance loans
The Community Economic Services Association of America, an organization representing payday lenders, countered that the Pew report lacked context. “Short-term credit items are an essential fiscal instrument for persons who want funds to pay for an unexpected expense or control a deficiency between paychecks,” the organization said in a statement. “In our present market and limited credit market,” the assertion continued, “it is critical that consumers have the credit choices they need to deal with their fiscal problems.” The typical moneylender Singapore charged by organization people, the declaration stated, is to per 0 lent.

"Payday Loans Are Promoted As An Appealing Short-term Alternative, But That Does Not Reflect Truth. Spending Them Off In Just Two Weeks Is Unaffordable For Most Debtors, Who Become Indebted Long-term," Nick Bourke, Pew's Expert On Small-dollar Loans, Said