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These statistics resemble in most other states. Which means the borrower will pay $400 - $500 in loan fees on a $400 loan. This really is absurd usury and will be illegal as 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 should have somewhere to go," said state Rep. Eldridge Emory, "Butif he gets money by doing this, he's just digging a dent deeper and deeper, and he isn't going to get out."Several states like New York have currently banned this form of predatory lending. - debit card and cash advance
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