Illinois payday loan services are coming under fire from protestors who unfairly characterize the short-term monetary solutions as "predatory" while underestimating their use to those who use them.
Following a recent protest at and Advance America payday lender located in Decatur, Illinois led by a local interest group, a spokesman for the lending service spoke out against the manipulative tactics that were being used to vilify short-term lenders and ignore the benefits they provide.
"I think it’’s extremely unfortunate that this group continues to use their bullying tactics to threaten, bully and intimidate our customers, who have made a fully informed choice to use our services because they are oftentimes the most transparent option and the most simple and convenient option," Advance America spokesman Jamie Fulmer, told the Herald-Review.com.
Responding to claims that payday lenders were deceptive in their practices in order to force consumers into debt problems, Fulmer added that consumers who utilize cash advances made "fully-informed decisions" to do so after understanding the terms and rates that came with the loans.
According to the State Journal-Register, a recent survey by the FDIC found that nearly 22 percent of Illinois residents were "underbanked," the same as the national rate.
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