New Hampshire Payday Loan Companies are Growing

New Hampshire Payday Loan Companies are Growing

The Boston Globe had an interesting article today on Boston.com concerning cash advances, called 'Payday' loans do booming business in N.H.

This article contained a lot of interesting information, not just concerning New Hampshire specifically, but regarding cash advances and the payday loan business in general. It also covered both sides of the main issues and controversy surrounding cash advance loans.

It gave some specific examples of people who depend on payday loans when they need financial help. On the other hand, there is an attorney that comments that payday loans are a trap, because people that use them end up owing more and more, ending up in a worse financial state. They also put the payday loan company arguments out there: that people depend on cash advances during emergencies and that it isn't fair to compare annual interest rates for these short term loans.

There is also interesting data on how the overall businss is expanding very quickly, both in NH, and nationally. They give specific statistics on how the number of loans issues grew significantly from 2004 to 2005, and that the average dollar amount of the loan also grew.

Check out the article for all the details and to learn more about the payday loan industry.

Posted by Cash Advance Planet
May 22, 2006 6:29 pm

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