Not really. These people that get payday loans, signs "contracts" that states that if they don't pay, the funds will be taking out of their checking account automatically, if that fails, garnish on their payroll....most folkf are not even awre of that. If that all fails that the company can not collect, and the customer goes to another payday company, all these companie are "electronically" tied and if you default, you pop up everyware within that state. I know this shit, beacuse my friend is a GM for on of these big companies.
I was referring to the customer. It is a very expensive way %-wise for a customer to get a relatively small sum of money. Joe.
Thank you for the explanation. I am aware that those rates are applied for a very short period of time, but this is downright usury, at least for me. What is the typical delinquency rate?
LOLOL, it's hard for me to think that someone who would want to pawn their valuables as not being desperate on some level, hood or not.