WeвЂ™re heading in to the time of the year when payday loan providers begin to see the greatest amount of company. ThatвЂ™s not really a positive thing for Floridians. Payday advances are infamous for producing a spiral of financial obligation among individuals in currently difficult situations that are financial.
BMG cash has an alternate selection for individuals in a pinch вЂ” one which has little possible to go out of them worse down than before. This is the вЂњLoansAtWorkвЂќ program.
But to position the program in context, first a few statistics that are sobering payday advances.
According to a study simply released by the Pew Charitable Trust, just 14 per cent of borrowers are able to settle a normal cash advance, leading most to renew or re-borrow at high expense.