We have actuallyn’t slammed payday lending for a long time now, it’s about time so I figured. Exactly What Are Pay Day Loans? I’ve attempted in my overly wordy and way that is complex explain payday financing in past https://www.speedyloan.net/reviews/fig-loans/ articles (see for example Reverse Bank Robbery, Banking institutions Now Payday Lenders, and Wonga: So Wronga), but this 76-second movie could be the simplest, clearest description of payday lending’s ugliness that I’ve seen. Into the video’s instance, John ultimately ends up having to pay seven $75 fees—$525—to borrow $500 for 12 days. In APR terms, that actually works away to about a 390% annualized rate of interest that John paid on his $500 loan. Big Ouch. How Come Individuals Just […]