Brick and Mortar payday loss is online payday gain
Sad days for those in AZ and OH with regards to payday loans. Many are not sure how these initiatives lost in the voting, however they did. This is going to affect a lot of brick and mortar stores located in these states. This is a very large deal, because there are quit a few stores located in these states. Where do we go form here?
According to PDL blog, image might have had something to do with being able to get legislation passed on the payday loan industry. Did the misconception of a payday loan really have that much affect on those that were voting on these propositions, or did voting consumers really not want to have payday loans around any longer? Now some lenders in these states and going to be closing down some of their stores. So how will this affect the internet payday loan industry? Will it be affected?
The good news is that some of these lenders that will be closing down locations, will now be looking at alternative options to offer the consumers. One of the alternatives is a short term unsecured loan. This type of alternative will then be able to still provide some assistance to those that are in a temporary situation, but do not have the ability to get a payday loan or any other “bank” loan.
Time will tell. I am sure all eyes will be on this industry to see if this recent legislation will affect what direction other states pursue……. or if there is a way to “try again” to get this legistration overturned. Leadpile Lead Exchange realizes that there are consumers that really need assistance with their unforseen debt/bills. We will continue to try and match up those consumers with the lender that can help them take care of this issue. Loan modification, tax debt relief, debt consolidation, debt settlement, credit repair and others are lead types where we are trying to get the necessary help to the consumers.