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Money-lending industry is growing fast and faster success than anyone would have predicted a few years ago. Today there are more shops with cash advance pay day in the whole country is not McDonalds, Burger King and Subway's restaurants in general. There are many shops. The company now has a lot of heat recently, due to interest rate cash advance loans are the best and abusive at worst enemy. There is little that used to interest rates, which can be described in general, more than 400% per year.
Industry defends its position, pointing out that) offers the comfort and b) the interest is not really a question of interest payments, the costs are provided for the services, and C) are ready, 14 days instead of 12 months, so that the annual interest rate is important. Reasons for the much discussed, but funding is still much loved in spite of laws and regulations, that the promoters, all terms of the paper must be disclosed. Lenders say that probably is not to say that the average consumer is not weak, but some of the middle class to borrow it in the shops.
Studies show that otherwise noted. According to a recent study, Arkansas offers a vision decidedly different than the proposed loan to the company raises the cash:
Studies show that half of respondents said that it asked for a bank loan before you get a payday loan, bad credit but denied discovery.
Over 75% of borrowers have no reason that threatening calls from creditors owed in cash .
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