I am reading an article about payday loans. It seems that one in five military member in California are payday borrowers. The average borrower pays $660 to borrow $255. You can borrow for 2 weeks and renew the loan up to nine times. Families pay about $500 million in fees per year. wow. Not a good idea.
Payday loans
January 12th, 2007 at 04:46 pm
January 12th, 2007 at 04:48 pm 1168620495
January 12th, 2007 at 05:46 pm 1168624014
I know emergencies come up and that minimum wage is tough...but having worked in the financial industry, I can tell you that just about all of the folks I counselled had daily fast food purchases or movie rentals or daily trips to the store or 7-11 for milk.
Sad, indeed. And shame on the loan places that take advantage of the situation and make it even worse.
January 12th, 2007 at 06:08 pm 1168625281