Let me make it clear about Editorial: ‘Payday loan’ interest should always be limited

Let me make it clear about Editorial: ‘Payday loan’ interest should always be limited

It does not seem like an interest that is high — 16.75 % appears pretty reasonable for a crisis loan. That is the most allowable price on “payday loans” in Louisiana. It is concerning the exact exact same in many other states.

However these short-term loans, applied for by those who require more money between paychecks, frequently seniors on fixed incomes in addition to working bad, may lead to chronic and almost hopeless indebtedness, relating to David Gray during the Louisiana Budget venture, an advocacy group that is non-profit. […]