PayDay Lenders Target Social Security Recipients. Loans dangerous for Social safety recipients

PayDay Lenders Target Social Security Recipients. Loans dangerous for Social safety recipients “Payday” loans are often short-term as well as for lower amounts, however they may cause big dilemmas. These loans often drown borrowers in debt despite their name suggesting a temporary solution for the cash-strapped to stay financially afloat until the next paycheck. The typical pay day loan, also known as a “cash advance loan,” is for 14 days and $325. However with high charges, that payback quantity becomes $377 [...]

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