It is likely that in two weeks when the loan is due, they won't be able to afford to pay it off then, either. They will have just enough to pay interest and roll it over. The interest rates are so high that they become onerous very quickly. . . . It's possible they may never have enough to pay it off and just keep rolling it over or replacing it.
Studies on interest rates charged by the Mafia in New York City in the 1960s found an average rate of 250 percent. So, payday lenders in Utah charge more than twice as much as the Mafia loan syndicates. It shows it has gotten out of hand.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.