These loans are marketed as an instant economic fix, but they are rather a long-lasting financial obligation trap for borrowers.

These loans are marketed as an instant economic fix, but they are rather a long-lasting financial obligation trap for borrowers. Because it is presently written, the legislation limits the size of the loan to two years, and will allow borrowers of shorter-term payday advances to pay for those off using the dollar” loan that is“small. […]