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Fast Factual Statements About Payday Lending. PAYDAY LENDING RESULTS IN LONG-TERM DEBT TRAP

Fast Factual Statements About Payday Lending. PAYDAY LENDING RESULTS IN LONG-TERM DEBT TRAP

Below are some fast information about the lending that is payday in Louisiana, published by LBP analyst David Gray.

  • Relating to industry representatives, payday financing was created to trap borrowers in long-lasting rounds of financial obligation:

“The theory in the industry is that you’ve got to have that customer in, work to make him right into a repetitive consumer, long-term consumer, because that’s really where in actuality the profitability is. Continue Reading