I don't see that. As long as they have full disclosure and adhere to all regulations, it's no more of a "scummy" operation than say, a state run lottery.
“I don’t see that. As long as they have full disclosure and adhere to all regulations, it’s no more of a “scummy” operation than say, a state run lottery.”
At least in a payday loan you get something. With state lottery’s the average person gets nothing except an empty wallet.
Regarding full disclosure, I've seen the contracts that people sign from 2 payday load companies: In both cases, both the APR and the total amount that must be payed back (which is also the amount for which you write the check) are in HUGE type. There's NO WAY that you could possibly say that "it was in the fine print." That and the fact that you're getting $300 in cash in return for a check that you just wrote for $345!
Anybody who can't understand that has no business living on their own.
Mark