To the editor:

Reporter Mike Belt’s Jan. 26 article on family finances states that 85 percent of payday loan customers are “unable to pay their loans by the deadline.”

The reality is that the vast majority of payday loan customers pay their loans off on time. Here at Quik Cash, about 90 percent of our customers meet the terms of their loan agreements without incurring financial difficulty.

For the small minority who has difficulty meeting those terms, we offer, at no extra cost, extended payment plans that give customers more time to pay off their loans.

You won’t find that kind of free credit anywhere else.

Short-term loan companies each year help thousands of Kansas families overcome unexpected financial circumstances, and Federal Reserve Bank studies show that, by extending credit where otherwise there would be none, short-term loans actually help household finances.

Tom Linafelt,
QC Holdings Inc.,
Overland Park