[Ruy Dias de Bivar]

I knew a poor woman who took out a 50 dollar short term loan from them. Within a year she was in debt to them for 400 dollars on that 50 dollar loan.

Another went to a check cashing and loan company in another state as she was short of cash. She needed 100 dollars, but balked when they demanded a check for 145 dollars before they would give her the 100 dollars.

[ilovesarah2012]

It’s too bad banks don’t make small quick loans with reasonable terms.

[Graybeard58]

She needed 100 dollars, but balked when they demanded a check for 145 dollars before they would give her the 100 dollars.

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I’m pretty sure that it is illegal for anyone to write a post dated check and illegal for anyone to demand one. Since it’s a state law, I suppose it depends on the state.

[goldstategop]

If you need a short-term loan, overdraft your account, if you have an overdraft line.

You’re using the bank’s money to pay a debt but it beats a payday loan.