Burned or castrated?
September 26, 2008 | industry, personal finance | Comments (1)That’s the profound (if tongue in cheek) question asked by this “payday lender.” Actually, a fairly intelligent critique.
That’s the profound (if tongue in cheek) question asked by this “payday lender.” Actually, a fairly intelligent critique.
Comments»
This is an excellent article. Extremely informative. I too am a payday lender and prior to buying a franchise I worked in the lending world for almost 30 years. I also worked for a well know finance company for 26 of those years. I watched as their business model changed away from small personal loans of any kind to mortgages. Leaving the consumer with even the smallest blemish on his credit with no where to turn to get a loan. If the politicians and the press would wake up and study this business they would find that we arent loan sharks but people trying to help others get the loan that they cant otherwise obtain. We dont cater to the poor as so often stated our customers on average make over 30k per year and many of them make over 75k. If the loan is used correctly it can be extremely beneficial to get and far cheaper than many of the alternatives.