‘ Like a drug’: pay day loan users totally hooked on quick-cash period

‘ Like a drug’: pay day loan users totally hooked on quick-cash period

For Raymond Chaney, taking out fully a cash advance had been like employing a taxi to operate a vehicle around the world. He finished up that are broke stranded.

The veteran that is 66-year-old Boise lives off of Social safety advantages, but lent from an online payday loan provider final November after their car broke straight straight down and didn’t have the $400 for repairs. As soon as the 14-dayloan came due, he couldn’t pay, therefore he renewed it many times.

Within months, the money flow nightmare spun out of hand. […]