Payday loans are a good way to avoid late fees
Payday loans are a good way to avoid late fees
Millions of people apply for payday advance loans every year, and this number has been on the raise for years now. However, the payday loan or payday advance market has been frequently attacked by many organizations. Many articles have been written about how payday advance loan lenders target low income neighborhoods, and low-income families. They claim payday advance lenders charge high interest rate and push low-income people or families even further into debt. Putting them on a “debt treadmill” they can never get off. The irony is that the banks decline to lend directly to a person a payday loan or payday advance loan. But what is interesting thought is some of the largest banks have extended lines of credit to payday loan lending institutions. I guess the large banks don’t mind lending to lenders who lend to people payday advance loan? I guess they want to get their hand in the cookie jar, just not get caught doing it? Since...