80 percent of payday loans are renewed multiple times, causing debt to spiral due to the addition of new fees with each renewal.

Authors

• Person: Not available Organization: Maine Center for Economic Policy
  Predatory Lending — An Explainer - MECEP

Sources

• Predatory Lending — An Explainer - MECEP www.mecep.org Maine Center for Economic Policy via serper

Referenced by nodes (1)

• payday loan concept