‘ 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 right out an online payday loan had been like employing a taxi to push around the world. He finished up broke — and stranded.

The veteran that is 66-year-old Boise lives off of Social protection advantages, but lent from A web payday lender last November after their car broke straight down and didn’t have the $400 for repairs. If the 14-dayloan came due, he couldn’t pay, therefore he renewed it many times.