They’ll probably outdo on their own once again quickly. Heck, you can bet the owners of some bottom-feeding, high interest loan company in eastern North Carolina are having a meeting in which they’re discussing how to market their “product” to hurricane victims as you read this.
Having said that, this tale from present version of Education Week defines a scam which will be tough to top.
It states that the payday lending industry — those fun folks who make bi weekly loans with their struggling other residents at 200, 300 or 400per cent interest — are now actually pressing their rip-off on moms and dads of young ones going back again to college.
An Education Week analysis found dozens of articles on Facebook and Twitter focusing on parents whom may need a “back to school” loan. A few of these loans—which are signature loans and may be properly used for such a thing, not merely school supplies—are considered predatory, professionals state, with sky-high rates and fees… that are hidden. Continue reading “Predatory lenders that are payday a brand new low”