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you can have knee-jerk effect that payday financing is abusive.

you can have knee-jerk effect that payday financing is abusive.

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Wednesday, February 12, 2014

Could Other Lenders Beat Straight Straight Back Payday Lending?

A pay day loan works such as this. The debtor writes a check for, state, $200. The lender provides the debtor $170 in money, and guarantees not to ever deposit the look for, state, fourteen days. In place, the debtor will pay $30 to get that loan of $170, which appears like an extremely high price of “interest”–although it is theoretically a “fee”–for a loan that is two-week.

Often knee-jerk responses are proper, but economists at the least you will need to evaluate before lashing down.