Allow Borrower Beware: experiencing the reality about payday advance loan and Pawnshops

Allow Borrower Beware: experiencing the reality about payday advance loan and Pawnshops

Pay day loans make headlines once again

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A new study from the Pew Charitable Trusts mentions the plight of payday borrowers whose repayments trigger bank checking account overdrafts and a compounding of charge and expense.

A New York circumstances post keeps mentioned that biggest financial institutions posses played a role into the growth of net payday lending by allowing lenders to manufacture automated withdrawals from individuals’ records. Continue reading “Allow Borrower Beware: experiencing the reality about payday advance loan and Pawnshops”