Payday Pundit

I’ve been alerted that the following letter was published in the Manchester, New Hampshire Union Leader on July 9th.  If anyone can find an online link, please send. 

Gov. John Lynch closed my business

To the Editors: 

My name is David Martin. I own Colortyme Payday loans in Manchester. My partner and I are both longtime full time residents of New Hampshire. Our business is incorporated in New Hampshire and we are licensed by the state Banking Department.

Yesterday, Gov. John Lynch signed HB 267, eliminating  payday loans in New Hampshire. I will be forced to close my business.

My costumers are hard working honest people who at this point in their lives are living paycheck to paycheck. They need these loans when they face unexpected financial emergencies. They are shocked when I tell them we are closing.

The first question they ask is ” Why are you closing? ” My answer is “Because the State has decided that you don’t deserve access to short term credit.” The second question they ask is “What am I going to do now?” The only answer I can give them is ” I honestly don’t know.”

 David Martin

Update: It looks like this letter ran in the Nashua Telegraph on Sunday.