We nominate this story for worst headline ever written and most misinformation ever fostered upon unsuspecting readers. Where does the Payday Pundit begin?:
How about with this nonesense?
Before taking a payday loan, consider other, cheaper options, such as overdraft protection on a bank account, an advance on a credit card or a personal line of credit with a financial institution.
No, overdraft protection is much more expensive than a payday loan, and if consumers had access to a personal line of credit, they wouldn’t be needing a payday loan.
And,
There are a lot of costs involved in payday loans, including high interest rates. Some of these costs can be hard to understand.
No, in fact, payday loans are the easiest financial instruments to understand. The fees are posted all around the stores. The application form is simple.
It’s 7:30 a.m. and the Payday Pundit is already grumpy.
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