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The situation with pay day loans is the fact that lots of people aren’t able to spend back once again the mortgage at that two-week or four-week mark and additionally they roll it over

The situation with pay day loans is the fact that lots of people aren’t able to spend back once again the mortgage at that two-week or four-week mark and additionally they roll it over They arrive, spend from the loan and just take down that $100 [loan] again, straight away having to pay another $15. […]

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Publication 15-B, Company’s Tax Guide to Fringe Advantages

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Predatory Lending. 12 Months THROUGH 75% OF PAY DAY LOAN FEES RESULT FROM BORROWERS STUCK IN SEVERAL LOANS EACH

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