Payday Advances--Modern Day loan sharking!
March 1, 2007 3:17pm CST
Has anyone been sucked into the payday advance whirlpool where you borrow money from a payday advance center and the next payday you pay them back the money you owe plus an enormous amount of interest. It is a trap because they allow you to keep rolling the loan over as many times as you causing an endless cycle of borrowing that you don't get any credit for because the transaction is not reported to the 3 credit bureaus. Has anyone been a victim of this modern day loan sharking?