Payday Loans Not Demonized: the whole credit personal loan Industry is Shocked

Los Angeles Times choose to run the story of Christmas Eve payday loans. But this time, it is not the kind of attack serious pieces of the industry press frequently. Alert story - of the same borrowers and lenders Of course, mandatory non-performing loans of the story. Single mothers have been taken from Anaheim 6 payday loans 1,500 yuan. Over the past two years, she still owed more than 1000 U.S. dollars, and paid the $ 7,000 cost and interest. Personal participation, such a story is tragic. But fortunately relatively rare. Los Angeles Times article quoted a spokesman for the trade sector is estimated that three or four per cent of the borrowers involved in 'horror story', while non-performing loans payday loans do not like as much as the practice of borrowing. Of course, this is a meaningful one. There is no advantage, who were unable to repay loans, and the efforts of luck story - the media paid great attention to - is not good business.

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