cash central review

Cash Advance Industry Admits ’Very Few’ Borrowers Repay Their Loans

Cash Advance Industry Admits ’Very Few’ Borrowers Repay Their Loans Payday loan providers generate income by providing individuals loans they can’t pay off. That fact happens to be obvious for many years. A 2009 research through the Center for Responsible Lending unearthed that people taking out brand new loans to settle old ones compensate 76 per cent associated with payday market. The payday loan industry has consistently argued in public that its high-cost loans with interest rates ranging from 391 to 521 percent do not trap borrowers in a cycle of debt despite this...

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