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Pay day loans are marketed being a quick-fix way to economic emergencies. Nevertheless, they carry costs that amount to triple-digit interest levels and frequently unaffordable payments, ultimately causing a spiral of financial obligation for the absolute most financially vulnerable consumers in lower-income metropolitan and rural communities.
Based on the Center for Responsible Lending, payday advances cost People in the us over $4.1 billion in costs yearly. In Michigan, that number is around $100 million through over 550 shops, and online […]
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