Payday financing is a predatory type of financing that thrives in the naive and gullible portion of the US population
For people who live from pay-check to pay-check, an urgent economic crisis can be a reason for extreme cash-crunch. The most likely place of respite seems to be the bewitching neon-lighted neighborhood loan shop to tide over a short-term problem.
The fluttering indications reading “Instant Cash Advance”, “Checks Cashed” or “easyMoney” are usually too enticing to resist. The lure of simple cash becomes the starting place of an apparently innocuous loan that more than time accumulates into a debt that is immitigable. The debtor unsuspectingly goes into that loan pattern that wrenches a yearly rate of interest of 400per cent or higher! Continue reading “Payday financing is a predatory type of financing that thrives in the naive and gullible portion of the US population”
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