We’ve had the pleasure of hearing back from some of our customers who have taken advantage of our loans, and the overarching theme present in their correspondence has been this: We helped these individuals when no one else would. With that in mind, we know how important it is that people have access to the unique form of aid that we provide.
In Pennsylvania, consumers don’t have such access, as Internet payday lending has been disallowed there since 2008. However, legislators there are currently debating whether or not to pass a bill that would allow online lending to take place in the state again. So far, the bill has made it through the state House of Representatives, and its next stop is the Senate.
When something important to consumers is banned, it has been documented in many cases that they will be forced to find what they need in any manner possible, even if this means using illicit forms of doing business.
Pennsylvanians without any way of solving their financial problems may have tried using shady online lenders to get the money they need. These lenders often operate outside of the country, and conducting business with them can lead to numerous unsafe situations for consumers, such as debt collection scams and identity theft. A bill allowing for regulated, reputable lenders would create a much safer marketplace for Pennsylvania consumers.
We’ve had many customers in Pennsylvania in the past, and our loans have been able to fill a real financial need there. This is because, in addition to the fact that the loans are available to all types of customers, taking one of these loans out is infinitely preferable to the alternatives. Whether it’s paying a bank overdraft fee for a bounced check, a late/reconnect fee on an unpaid utility bill, or some other pricey option, the alternatives just aren’t acceptable.
It’s difficult at this point to predict which way the decision in Pennsylvania will go. All we know is that when they are facing a financial crunch, people can always find relief with the helpful loan options that we provide. And when trying to manage their personal financial situations, having a variety of choices available instead of just a few is always a good thing for consumers.