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Many Totally Hooked On Pay Day Loans, Study Discovers

Many Totally Hooked On Pay Day Loans, Study Discovers

Inspite of the protestations of payday loan providers, several of their clients borrow from their store over and over repeatedly and again, relating to a Chicago nonprofit.

The industry claims its loans – which carry charges averaging 20% – are meant to be periodic, short-term repairs for consumers with cashflow dilemmas.

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