“That’s an allegation where the facts of this matter don’t match,” Fulmer stated.
He characterized the typical pay day loan client being a home owner with a middle class, a higher college diploma plus some university experience.
Wednesday the customers are people like Brenda Cherokee, who was at the CheckSmart store, 4503 W. Broad St., on a recent. Cherokee had just produced payment on the fifth cash advance from the past 12 months.
“I decided to go with it over additional options I didn’t have enough to cover the expense in my savings,” she said because it was an immediate need, and.
Cherokee, a nurse, stated she utilizes payday advances responsibly and will pay them down the moment she will.
“Some individuals don’t,” she said. “They borrow more than they are able to manage, then they find they can’t dig on their own away from that hole.”
Sara Griffith and Josephine Varnier are journalism pupils at Virginia Commonwealth University. This report was contributed by them through the main city News provider.
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