Payday loans trap people in ‘spider webs of debt’ – CNBC.com

Mar 26th, 2014 Loans.

Columbus Dispatch

Payday loans trap people in 'spider webs of debt'
About 12 million Americans are using a payday loan to bridge a gap in their cash flow. These "cash advances" or "check loans" are generally for $500 or less, and they're supposed to be paid back in two weeks. But a new report from the Consumer ...
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