Category Archives: cash america loans online payday loans

Predatory financing or even a required service?

In accordance with Pew Charitable Trusts, most borrowers spend more in fees and interest than they get in credit.

The normal payday debtor is in debt for five months out from the 12 months and spends upward of $500 in fees to over and over repeatedly borrow about $375 at any given time. The fee that is average a storefront loan is $55 per a couple of weeks, though they start around $17.50 to $100 therefore the expenses can easily increase as interest builds on unpaid loans. Continue reading