Payday Loan Lowdown

The grumbling has grown and has now become more than a disturbing noise. Wondering what I’m talking about? Payday loans and the protests against it are now gaining momentum and community dialogue about payday loans is going on in states across the country. This movement has gained such momentum thanks to the untiring efforts of grassroots groups that are encouraging consumers to speak out about their debt problems at various meets organized by them.

Sunflower Community Action, an activist group in Wichita has invited consumers, state legislators, regulatory officials and city leaders to one such meet. To be held on Saturday this meeting will deal with payday lending and car title loans. Representatives of the industry also plan to sit in at the meeting, which will be held at 11 a.m. Saturday at Tabernacle Baptist Church. Kansas.com reports:

Jeff Witherspoon, executive director of Consumer Credit Counseling Service, plans to go to the meeting and said multiple payday loans are becoming common for clients of the nonprofit debt management and financial counseling service, as people use one payday loan to pay off another one.

Read more: Payday loans breed concern