0 thoughts on “Major Banks Stop Offering Payday Loan-Equivalents: Deposit Advance Loans

  1. Louise says:

    Dear Mr Sovern:
    I have been mulling over a possible way to help people who need a short term pay-day loan of moderate amount, along with those who do not have a bank account to cash a paycheck.
    There is so much abuse and fraud in most so-called charitable organizations from the small ones to the largest that I stopped giving period. I am not wealthy but I would be willing to help bridge a few people over without any charge attached.
    Furthermore, if this works, I would try to encourage others to do the same thus creating a network of genuine help for those who need it without any financial loss on their part.
    I am aware that there is a risk of default but if the short term sums are kept at a moderate level and a person who defaults is denied further help; it would not be worth it for anyone to do so.
    If you can spare the time, may I have your opinion on this idea?
    Thank you.

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