Unemployment, rising debt and financial uncertainty are continuing to change the perception of those who are using payday loans.
Lon Neofotist, managing director of XtraCash LLC, a payday lending alternative CUSO, said that is certainly the case lately given the nation's economic downturn and its attempts to recover.
"It's been an ongoing hurdle," Neofotist acknowledged, to get past the stigma even within the credit union industry. "Payday loan consumers are smart, they're educated, and they're middle income."
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