Has a kinder, gentler payday loan arrived? Traditionally, payday lenders offset the high cost of making short-term loans with annual percentage rates of 400% or more. A borrower who falls behind finds himself on a treadmill of debt, paying only the interest and renewing the loan again and again. But a new crop of alternative lenders...
The article ‘Good’ Payday Loans Still Very, Very Expensive originally appeared on NerdWallet.
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