Online Payday Loans

Truth in Payday Lending

Jennifer Stein

Category: Quotes, Opponent, Testimonials — Tuesday, October 24, 2006

“When you go for these loans, you’re pretty desperate, and you don’t really care as long as you get the money you need… They basically give it to you just to fail.”

Internet payday loan consumer Jennifer Stein believes online lenders are a trap…

According to an article entitled Payday Loans Rise Online - And So Does Debt published in the Minneapolis Star Tribune, Stein took out three payday loans totalling $1300 about two years ago. She has paid over $2300 on the amount borrowed and still does not know when she will be able to pay it all off. She said:

“They suck you in… It’s very, very hard to get caught up once you get involved in these.”

Jennifer Stein is an administrative assistant who lives in Inver Grove Heights and makes $27,000 a year.

Source: Payday Loans Rise Online - And So Does Debt by John Reinan (Minneapolis Star Tribune)

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