Don’t let facts get in the way…
February 27, 2010 | Colorado, industry | Comments (1)of a good anti-business diatribe. From the Aurora (CO) Sentinel:
The reality is that the average payday loan is about $350, and the average borrower has to pay about $570 in interest in fees to get the loan, according to the state attorney general.
That’s NOT the reality. That’s a lie. They are making the assumption that the average borrower is rolling over an original loan instead of getting new credit.
Comments»
I was wondering if you would have a suggestion for a (or multiple) sources to find more reliable/unbiased/truthful statistics regarding payday lending? Nationwide or state-by-state.
Thank you so much!!
Keep up the great work!