Yet another study on Payday Lending

I bet the people used in these studies, were all close relatives of Payday Loan managers. :?

This 'conclusion', on PDL's, is unbelievable! How can PDL's HELP people...charging all of that %? Seems like, when 'you' get a PDL, it takes 'forever' to pay them back.

I agree with you Shazzers...

"Novel" use of "experimental" economics? How about coming out into the real world and doing some studies? It's going to take more than a lot of buzzwords to convince me that the PDL's are anything but crooked.

And who paid for this study? Was it the CFSA? I'm sorry, but I have nothing good to say about a PDL.

We need to invite these "researchers" to do a real study with people from this community as well as other forums that truly have dealt with payday loans.

You can make a study show whatever you want it to show for the right amount of money. So that's why I would be interested in finding out who fronted the money for this.

That is true kscornell. Studies are often in agreement with whoever pays. That would be interesting. The payday loan people have strong lobbyists. It's conceivable that they've expanded their influence to academia to give their position the appearence of more credibility.

I know situations can get tough with people, but..if people can possibly refrain from PDL's, that would be a 'good thing'. PDL's are horrible.

Sdchargers I agree 100%. The problems that come with taking out these loans are just not worth it. Unless you can pay it back right away, PDL's always cost way more than you really expect to pay. I cringe everytime I think about taking out another. I know people say never say never. The look on my dad's face when I told him and what he said to me when we went to the bank. I don't ever want to be in that position again. Whatever crisis I have, I will find another way.