Can Alabama Crack Down on Predatory Lending?

Payday advances enable those in need of quick money to borrow a little sum of money—$375 on average—and pay it when their next paycheck will come in. These short-term loans appear to be a deal that is sweet those strapped for money, but most of the time they could trap borrowers in a period of financial obligation. The tiny loans in online payday AL many cases are marketed for unforeseen expenses—car repairs or medical bills—but according up to a 2012 research through the Pew Charitable Trusts Foundation, nearly 70 % of borrowers utilized the cash to pay for recurring bills. Read more