Payday loans benefit families
August 31, 2009 | Missouri, Springfield News Leader, industry, regulation, research | Comments (0)From a letter in the Springfield News Leader from QC’s Tom Linafelt:
Short-term payday loans each year help thousands of Missouri families overcome unexpected financial circumstances and avoid more-expensive fees associated with bounced checks and late bill payments. In addition to being more expensive, these options negatively impact credit ratings and may hurt a consumer’s access to employment, housing, insurance and other credit options.
And with credits cards and other alternatives being squeezed, this short-term credit option is needed more than ever.
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