Cynthia Smith
“I think it’s wonderful for people that need the money… A lot of people live day to day.”
Payday loan consumer Cynthia Smith offered this praise as she left a payday loan shop in Richmond, Virginia…
In a column by Michael Paul Williams of the Richmond Times Dispatch, Cynthia Smith said that she did not agree with consumer advocates who argue that payday lenders trap borrowers in a cycle of debt.
She also said that payday lenders serve the unbanked (borrowers who have been abandoned by traditional banks):
“The banks make it hard… because you have to go to [payday lenders] to get what the bank won’t give you.”
Cynthia Smith is a chef who lives in Richmond, Virginia.
Source: Payday Loans Due for a Fall? by Michael Paul Williams (Richmond Times Dispatch)
Most banks automatically enroll checking account holders in an expensive alternative to payday loans called Bounced Check Protection (or shall I say Bounced Check Profiteering?) and a more reasonable form of credit called Overdraft Credit (but you must meet a certain level of creditworthiness). Credit unions are an excellent choice or you can explore other payday loan alternatives.
The testimonials on our site are all from credible news sources and are more trustworthy that the testimonials on some payday loan sites. While researching payday lenders listed on our Compare page, I found many cases in which testimonials were “borrowed” from competing payday loan websites. For more information, please read Lenders Who Borrow.
Recent Posts:
- 05/05/2009: CompareCashLoans.com Gets a Facelift
- 06/16/2008: Demographic Study of Online Payday Loan Consumers
- 05/26/2008: Daniel O’Sullivan
- 04/24/2008: Update: Payday Loan Laws that Hurt Consumers
- 04/07/2008: Manitoba Public Utilities Board
Random Posts:
- 08/06/2006: Leah Caldwell
- 08/25/2006: Lyndsey Medsker
- 11/06/2006: Judy Wasylycia-Leis
- 10/15/2006: State Representative Jan P. Malik
- 12/13/2006: Six Payday Loan Laws that Hurt Consumers