Deer Park Broadcaster: Fast (and sickening) facts about payday lenders
June 11, 2015
Payday lenders target low and moderate-income people, advertising a quick, easy loan to help make it until the next payday.
In reality, payday loans begin cycles of chronic indebtedness. According to the Center for Responsible Lending, the average borrower ends up indebted for more than six months with an average of nine payday loan transactions at annual interest rates exceeding 400%.
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