Tuesday, November 13, 2012

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These statistics offer a similar experience in many other states. Which means the borrower can pay $400 - $500 in loan fees on a $400 loan. This is absurd usury and should be illegal since it is not helping anyone except the lender. It is predatory lending at best that just gets borrowers in deeper debt than before."Some will say, that little man has to have somewhere to go," said state Rep. Eldridge Emory, "Butif he gets money in this way, he's just digging an opening deeper and deeper, and he is not going to get out."Several states like New York have currently banned this form of predatory lending. - lakota payday loans


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