Payday loans get a bad rap sometimes. To be sure, you’re going to pay a hell of a lot more for a payday loan than you are for a traditional loan, personal loan, home loan or even a credit card. Payday loans charge interest rates that, in many places, can get as high as or …
Monthly Archives: May 2020
Legal Loan Sharks or Legitimate Business
Payday lenders are under fire constantly. Consumer advocates and politicians like to take shots at payday lenders. They use words like “usury” or phrases like “loan sharks.” They compare today’s payday lenders to mafia-connected loan sharks of the early 20th century. Still, opponents fail to recognize something: there wouldn’t be payday lenders if people didn’t …