Why can’t reporters get it right?
June 28, 2008 | Alabama, media coverage | Comments (0)Where to begin with this story out of Alabama? First, the story is supposedly about payday lenders and the first person the paper quotes is a title lender. Second, the story repeats the Center for Responsible Lending’s lies about the average customer. On the other hand, the reporter did present this side of the story:
Payday advance loans can be a valuable way to manage an emergency. But if the borrower is not careful, quick loans like these can create a cycle of debt that is difficult to break. In hectic times especially, it is important to make good choices for managing and paying debt.
“We got $200, and only have to pay back $220 in two weeks,” said Timmy Brigner, a customer at Advance America, another payday loan business. “Gotta pay the bills.”
The Payday Pundit appreciates this reporter’s attempt at balance, but thinks he should have learned more about the industry by calling CFSA before writing the piece.
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