Yes, you have to charge a lot to make up for the fact that half your
Customers can never repay the loans and end up defaulting. It’s a despicable business model — especially given that the industry had to lobby and weasel its way around usury laws just to do the loans in the first place— and the shift to subprime installment loans/cards and safer bank/credit union payday alternatives is more than welcome.
Of course the real tragedy is the fact that so many people need them to begin with. Much of America is a fender bender or slip and fall away from being out of work and in poverty.
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In response to this post by RML Hoos)
Posted: 04/25/2018 at 3:14PM