Wait, I thought industry was booming
April 6, 2010 | customers, industry, research | Comments (1)From the article:
The payday loan industry is seeing a steady decline in the number of borrowers as a result of high unemployment rates, reports Phoenix lender, 1-Stop Check Cashing. Families are instead turning to car title loans for quick funds.
The payday lending sector experienced a surge when families crippled by the economic recession found it more difficult to make mortgage, car, and debt payments in addition to paying for their basic daily needs. The rise in unemployment rates in Phoenix has made eligibility for payday loans decline, leaving many families for search for alternative loan methods to keep up with their bills.
The media can’t get its story straight. We’re booming, we’re declining, blah, blah, blah.
Comments»
That’s why most reporters are careful to never include a single verifiable statistic.
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