From a letter in the Superior (WI) Telegram:
Instead of providing low-income adults with quick cash to get out of a pinch, more than 80 percent of borrowers are not able to repay that loan within two weeks. They find themselves with no choice but to apply for a second loan with additional fees to pay off the first loan.
Not true. Consumers have the same choice they had when they took the first loan. They can bounce a check, use overdraft protection, they can borrow from family, etc.
or they can just not get the car fixed,pay the electric,buy the groceries,pay the school fees and clothes,or the last minute gift…….no one is forcing anyone to take care of unexpected issues but life is better when you do.Im sick of these advocates which in some cases pull down 6 figure saleries telling anyone how they should or shouldnt spend there hard earned money….Each case is different and each person is different,but limiting choices doesnt make anything better!