Based on Pew Charitable Trusts, many borrowers spend more in fees and interest than they get in credit.

Based on Pew Charitable Trusts, many borrowers spend more in fees and interest than they get in credit. The typical payday debtor is with debt for five months from the year and spends upward of $500 in charges to over and over repeatedly borrow about $375 at the same time. The typical cost for a storefront loan is $55…

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