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ezloan.com :These statistics are similar generally in most other states. Which means the borrower pays $400 – $500 in loan fees on a $400 loan. This is absurd usury and should be illegal because it is not helping anyone except the lender. It is predatory lending at better if just gets borrowers in deeper debt than before.”Some will say, that little man should have somewhere to go,” said state Rep. Eldridge Emory, “Butif he gets money this way, he’s just digging a hole deeper and deeper, and he’s not going to get out.”Several states like North Carolina have currently banned this form of predatory lending. - ezloan.com.
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