Payday Pundit

Car repo men and pawnshops booming in Arkansas and expected to grow in the wake of payday lending stores closing.   From the piece:

People pawn golf clubs, CDs, tools, and a big trader is gold jewelry. At nearly $1,000 an ounce, it’s hitting record levels.You know you can’t go to a bank and get a $25 loan to pay your gas bill,” says Pakis. “We are here for people that don’t necessarily have a credit card. We can always help out people.”

Pakis says with the slow economy and Arkansas payday lenders forced to shut down, that he expects business to double by the end of summer.