Holiday season & payday lending
November 23, 2009 | customers, industry | Comments (0)Not sure we’re buying this story:
To ensure that their families aren’t disappointed, people tend to get creative.
For those who plan ahead, layaway programs at retailers such as Toys R Us, Kmart and Sears have been popular. The Sears at Triangle Town Center, for instance, has 400 orders in its layaway store room.
Greg McBride, senior financial analyst for financial Web site Bankrate.com, expects people to turn to payday lending and pawn shops as well.
Pawn shop borrowing during the holiday season makes sense. Payday loans makes sense to workers expecting a bonus or are only borrowing an amount that can be covered by their next paycheck.
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