This survey suggests they are. Accordingly, most payday loans are taken out to pay other payday loans. (I had a college roommate who ended up in a bad way with these places. It was nearly impossible for her to end the cycle.)Seems like a good time to dredge up Jessica Cassyle Carr’s report on how consumers need to protect themselves before they wreck themselves. So have any of you ever dealt with payday loans or title loans? What was it like? Do you think these kinds of lenders should be regulated more closely? Banned entirely? Left alone because, hey, that’s capitalism?
Payday Loans—Evil?
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