Studies Debunk Key Anti-Payday Loan Arguments
Payday loans may get the heat, but they play a small part toward the end of the overall timeline of a borrower's financial distress, according to a Columbia Law School professor's study. Another study finds that payday borrowers with sustained usage actually saw more positive changes in their credit scores than borrowers with fewer rollovers. Borrowers who experienced a decline in credit scores were most likely to live in states with greater restrictions on payday rollovers. [2/11/15]