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Is Press Unfairly Demonizing Lenders?
Unfair Demonization of Title Lender?
So in this article, the author calls legal businesses as operating under “loopholes”. That’s not true at all. The law permits title lenders to operate, and they are regulated, in Texas. It’s hardly “the wild west”.
But what I don’t like here is this guy named Don Baylor, a “senior policy analyst” at the “Center for Public Policy Priorities” (whatever that means). He says the “high rate of repossession is another sign that such loans tend to ensnare consumers in a cycle of debt”.
If 90% of title loans are paid off, and only 10% result in a repo, how can that be considered a “high rate” and “a cycle of debt”? There is a disconnect here between truth and what Don Baylor and the media would like readers to notice.
The problem with this article is the problem with every article the media comes up with. They all talk about the minority of instances in which payday or title loans are not used properly, but never talk about the vast majority of times when they are used properly.
How about some balance? READMOREHERE
