- Owner of Mary Jane Burgers & Brew in Perryville to open new culinary concept in Cape (9/15/17)3
- Man accused of setting fire to Delta bar; posted photos of it burning on Facebook (9/17/17)5
- McClure man accused of leaving children in hot truck while gambling in casino (9/19/17)1
- How the story of one dog is helping others (9/14/17)1
- New boutique store advocates for special-needs people (9/19/17)
- Retailer may come to Jackson; rezoning needed first (9/17/17)2
- Eyewitnesses testify about fatal shooting; men were using drugs, alcohol (9/14/17)
- Jury finds Harris guilty of murder, 3 other counts (9/15/17)4
- Planet Fitness to anchor Town Plaza shopping center (9/18/17)2
- Mo. conservation agents help fight fires in western U.S. (9/15/17)
Payday loans help millions
In regard to the Nov. 15 story "Economist at foreclosure seminar in Cape predicts tough 2010":
Payday advances play a necessary role, providing hard-working people with a reasonable, well-regulated option for meeting unexpected or unbudgeted expenses and other short-term financial needs.
Payday advances are small, unsecured, short-term loans, usually due on the borrower's next payday. The average loan is $300, and the typical fee is $15 to $17 per $100 borrowed.
Payday advance customers are educated, hard-working, middle-class Americans who face unbudgeted or unexpected expenses between paychecks and want and need access to short-term credit.
Millions of customers across the country have used payday advance responsibly and appreciate having somewhere to turn when they need quick access to credit. Analysts estimate payday advances were used by 19 million households in 2008.
TOMMY MOORE, Executive Vice President, Community Financial Services Association of America, Alexandria, Va.