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In a typical pay day loan transaction, a debtor might spend a $50 finance fee to borrow $300 that is planned become repaid in 2 months

In a typical pay day loan transaction, a debtor might spend a $50 finance fee to borrow $300 that is planned become repaid in 2 months

Payday loan providers say they supply fairly priced, short-term money to individuals in need. The industry’s trade association states its clients are “the heart of America’s class that is middle. These are typically typical working that is hard who might not have savings or disposable earnings to utilize as being a back-up when unforeseen costs happen.”

Continue reading In a typical pay day loan transaction, a debtor might spend a $50 finance fee to borrow $300 that is planned become repaid in 2 months