Fast Factual Statements About Payday Lending
PAYDAY LENDING RESULTS IN LONG-TERM DEBT TRAP
- Based on industry representatives, payday lending was designed to trap borrowers in long-term rounds of financial obligation
“The concept in the business is [that] you’ve got to obtain that customer in, strive to turn him in to a customer that is repetitive long-lasting client, because that’s really in which the profitability is.” – Dan Freeman, CEO of money America