] Newswise – Some 10 million American households borrow money through payday loans each year, and payday lenders now have more storefronts than McDonald’s and Starbucks combined. New research by Vanderbilt Law School Assistant Professor Paige Marta Skiba
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New products and outputs are highly appreciated by the consumer public especially its new features and uses. Feasibility study is one way to prove its marketing opportunity and other determinants and factors. The rise to prominence of the payday loan industry is being blamed for the increasing number of bankruptcies. This is not exactly logical thinking. Paige Marta Skiba, Assistant Professor of the Vanderbilt University Law School, provided research that demonstrates the higher prevalence of those who applied and were approved for a payday loan and bankruptcy. This means that people who need money are more likely to go bankrupt. Oh, gosh – that is some groundbreaking research there. That’s like saying that people who live in the desert are more likely to die of thirst. Of course they are – they live in a desert! There isn’t a whole lot of water, and that’s what makes it a desert! Poor financial planning and budgeting makes for more bankruptcies, not taking out payday loans. Its like any other form of credit – you take it out, and you have to pay it back, and be responsible. Click here to learn more on Payday Loans.