OCLA interviewed Kenneth from Mt. Vernon, Ohio in March 2013. Here’s a transcript from the interview:
Do you feel that the charges for these services are upfront and transparent?
I don’t have too many gray areas in my life. If I don’t like it, I’m out of here, so you know, they’ve never tried to pull any scam on me or anything.
Has there been a time when these services have helped you through a crisis?
Yeah. Or I wouldn’t be here if I didn’t need the assistance. We get along great with these folks, and sometimes I don’t need their help and sometimes I do, so it’s no big deal.
Do you feel this industry tries to trap you in a cycle of debt?
Not really. I think they’re providing a service. I don’t think you’re trapped. Sometimes, economics just get out of hand. You don’t have a choice, and gee, if I was like President Obama and could blow $5 or $6 million on a vacation, I wouldn’t be here, but guess what, I don’t and so that’s why I’m here.
What would happen to you or the community if these services were eliminated?
Oh man. I always try to schedule my time to come in here and pay a loan on an off day. There’s a lot of people that would just be out of luck. They’d just be down because if you come in here on the third or the first, I mean it’s standing room only. It’s a necessary service.
What would you say to those people trying eliminate these services?
I’m thinking they’re being foolish. People wouldn’t use them if they weren’t available. I mean, I don’t think it’s a trap. People come here for a purpose. Maybe it’s one time, me, I come in every now and again, it’s just a service. I saw a warning they put up on outrageous interest, well that’s for a year, I’m only in it for a month, sometimes, I don’t come in at all, but then, there’s other days you do. You go to a standard loan company, they’re hitting you for 25, 26 (percent interest vs. lower short-term interest here), so where’s the big saving in that? If you go counting that up over a year, you’re in trouble.