Payday Advance Loans - Get Tough On Crime
They say once you take out payday advance loans, you never go back.
- Over 90% of all loans given out go to return clients.
- The average repeat customer used 11 payday advance loans each and every year.
- Despite the number of informational sites and laws being passed to stem the payday advance tide, these figures - and the raw numbers themselves - are on the rise.
This is a major problem sweeping the entire country - and the use of payday advances is just the beginning.
Soon enough, payday advance loans won't be enough
First time applicants can typically qualify for up to $500, while repeat clients returning to the same lender as the first will qualify for substantially more. As time goes on, and as the individual applies for more and more payday advance loans, the loan amounts become greater and greater, and their effect slowly becomes less and less. The amount of money the individual needs increases over time, and eventually they will reach a point when even a $1500 advance between every paycheck will not be enough to feed their cash-addled brains!
A worse addiction
What could possibly be worse than applying for payday advance loans every two weeks? While its a dangerously stupid thing to do, the actual loan amounts are relatively low. The person who finds they cannot make ends meet with the highest amount from a stead flow of payday advance loans will eventually turn to greater loan amounts., Unsecured lines of credit from banks, home equity loans , whatever they can get their hands on. And the downward credit cycle will only continue.
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