The part that is bad payday advances. The truly bad part about payday advances
Probably the most apparent issue with payday advances could be the expense. We simply did a good example of a debtor whom will pay $75 in interest for a $500 loan. The interest rate would be 15% if that was the cost of interest for a full year. That might be a decent price for somebody who has either bad credit or no credit, and is using an unsecured loan. However the $75 could be…