Pioneer Services 'Help Loan' a Responsible Alternative to Payday Loans
Pioneer Services 'Help Loan' a Responsible Alternative to Payday Loans
In order to offer an alternative
to payday loans, Pioneer Services created the "Help Loan" in 2003. This
short-term installment loan is a one-time loan of $500 with only $25.24 in
interest and fees, payable in four monthly installments with a 30-day grace
period until the first payment. It offers a disciplined and financially
responsible way for service members to get money for unforeseen expenses and
comes with the standard Pioneer Services 15 day no-cost satisfaction
guarantee.
"The Help Loan was created to give service members an alternative to
payday loans that is fiscally sound, affordable, and can't be rolled over,"
said Pat McCarty, Executive Vice President for Military Relations. "It's a
terrific way for military families to obtain emergency funds without getting
caught in a never-ending cycle of debt, something that happens frequently with
payday loans, check cashing services and title loans."
The Help Loan has been available for two years and is one of the many
Pioneer Services available to help service members meet their cash needs and
keep their focus on their jobs rather than worrying about financial issues.
Recent studies have also suggested that predatory and questionable lending
practices target the military community, putting service members in financial
harm's way.
One such study, Predatory Lending and the Military: The Law and Geography
of "Payday" Loans in Military Towns, conducted by a pair of university
professors, claims there is "irrefutable geographic evidence" that payday
lenders actively and aggressively target military personnel.
"Because predatory lending practices have become a huge issue for military
families, we are proactively marketing the Help Loan as a better alternative,"
said McCarty.
For more information about Pioneer Services visit
http://www.pioneerservices.com . For more information about how to protect
against predatory lending and to read the study, go to
http://www.responsiblelending.org .
PIONEER SERVICES is a brand name and registered service mark of Pioneer
Licensing Services, Inc., where its use is duly licensed to affiliates and
partners of Pioneer Licensing Services, Inc.
SOURCE Pioneer Services
Web Site: http://pioneerservices.com
http://www.responsiblelending.org
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In order to offer an alternative
to payday loans, Pioneer Services created the "Help Loan" in 2003. This
short-term installment loan is a one-time loan of $500 with only $25.24 in
interest and fees, payable in four monthly installments with a 30-day grace
period until the first payment. It offers a disciplined and financially
responsible way for service members to get money for unforeseen expenses and
comes with the standard Pioneer Services 15 day no-cost satisfaction
guarantee.
"The Help Loan was created to give service members an alternative to
payday loans that is fiscally sound, affordable, and can't be rolled over,"
said Pat McCarty, Executive Vice President for Military Relations. "It's a
terrific way for military families to obtain emergency funds without getting
caught in a never-ending cycle of debt, something that happens frequently with
payday loans, check cashing services and title loans."
The Help Loan has been available for two years and is one of the many
Pioneer Services available to help service members meet their cash needs and
keep their focus on their jobs rather than worrying about financial issues.
Recent studies have also suggested that predatory and questionable lending
practices target the military community, putting service members in financial
harm's way.
One such study, Predatory Lending and the Military: The Law and Geography
of "Payday" Loans in Military Towns, conducted by a pair of university
professors, claims there is "irrefutable geographic evidence" that payday
lenders actively and aggressively target military personnel.
"Because predatory lending practices have become a huge issue for military
families, we are proactively marketing the Help Loan as a better alternative,"
said McCarty.
For more information about Pioneer Services visit
http://www.pioneerservices.com . For more information about how to protect
against predatory lending and to read the study, go to
http://www.responsiblelending.org .
PIONEER SERVICES is a brand name and registered service mark of Pioneer
Licensing Services, Inc., where its use is duly licensed to affiliates and
partners of Pioneer Licensing Services, Inc.
SOURCE Pioneer Services
Web Site: http://pioneerservices.com
http://www.responsiblelending.org
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