“This analysis suggests that… the money advance lending industry has now fundamentally transformed the financial services sector catering to lower income Americans. Moreover, our findings should serve as conclusive proof that conservative Christian Americans are a prime demographic target ofthe personal loan lending industry.”
Christopher Lewis Peterson and Steven M. Graves came to this fascinating conclusion in [...]

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“What started as a short-term solution became a two-year financial nightmare.”
Gail Meyers describes her ordeal when a $300 deferred deposit loan turned into $2,500 of debt… Meyers’ poor credit rating and maxed-out credit cards left her with very few cash loan options:
“I couldn’t get a loan because of my [debt-to-income ratio]. My credit cards were maxed out. [...]

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“Deferred deposit check loans are not beneficial in any way, shape or form.”
Former personal loan advance loan consumer Tawana Stewart describes her ordeal with personal loans that ended in bankruptcy… Stewart, who fell ill shortly after starting a new job, took out a personal loan without giving too much thought to the month after:
“I needed $300 to pay for my [...]

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“I kept doing the borrowing and paying back and borrowing and paying back… They suggested I go to other places to pay them back. It snowballed.”
Social worker Rich Gilmore describes how the quick fix of short term loans can turn into a long-term nightmare… Gilmore owed thousands in medical bills and his credit cards were at their [...]

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“If it’s a choice between paying your bills or buying food, pay your bills and then come to us… We’ll help you with that rather than you going to a personal loan lender and ending up deeper in debt.”
Army Community Service financial counselor Leonard Toyer offers to help military families avoid the high cost of personal loan [...]

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“This suit was filed to protect Pennsylvania consumers from a harmful product that we believe is payday advance lending by another name… Families who seek these types of loans are usually living paycheck to paycheck and need just a little bit more to make it to Friday. Preying on their need by charging exorbitant fees [...]

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“We’re deeply disappointed he would take a job like this. These are bad guys and they do shameful things.”
Anti-payday loan advocacy group director John Ruoff was referring to Tommy Moore, who resigned a 26-year Senate seat this weekend to lobby on behalf of the personal loan loan industry… Moore, a former Democratic gubernatorial candidate, resigned from his [...]

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“With fees and interest, people with one of these loans (deferred deposit paycheck advance loans) wind up paying interest of 40% to 500% and as a result a lot of people are going bankrupt quicker because they don’t have access to ordinary banking services.”
At a speech inDetroit on Sunday, Former President Bill Clinton urged people to put [...]

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“It got to the point I owed so much on check advance loans, I couldn’t make my car payment… I think I had up to nine loans at one time. Each payday, I had to run from place to place to pay them off, roll them over or take out a new one.”
Payday loan consumer Wendy [...]

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“The time to repay is too short. He’s been trying to talk to them, but they won’t talk… They want the cash by the next pay day. How are you supposed to pay your bills?”
South Carolina resident Rena McFadden describes a nightmarish experience with deferred deposit deferred deposit check loans… Rena McFadden and her husband, Mitchell, started with a $100 [...]

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