There are some states that do not allow payday loan lenders from operating because the state has a cap on how high financial institutions can impose payday interest rates. But more and more payday advance lenders are finding a way to circumvent state laws by migrating to the web and offering many a payday loan online. An online payday advance typically has a charge of $15 to $30 for every $100 loaned for two weeks. This makes the practice extremely lucrative.
According to recent consumer reports,...Read more:The Payday Loan Online Problem
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