The Pew Charitable Trust did a survey regarding payday loans that every journalist seems to be citing – although they only seem to cite aspects of the study that are negative.  Even worse, some reporters take a study result and put a strange spin on it. Steve Watkins at the Cincinnati Business Courier provides an example.  He cited one part of the study which said that 81% of payday borrowers would cut back on spending if payday loans weren’t available.

There’s an inherent flaw in the Pew questionnaire, and it also makes the case for payday loans.  Page 33 of the study offered 7 alternatives if a payday loan weren’t available:

(You can read the rest of the article by clicking HERE)

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