Not absolutely all loans are made equal. Like if some one has to borrow $100 to pay for a bill before their next paycheck, he is most likely to pay for about $20 back on that intial amount. Some states have actually labeled the practice usury, but in Texas, it is simply good, antique lending that is payday.

Wait an additional. Pay day loans are not component and parcel of this mess that is subprime going right through now, will they be?

Well, not really. The subprime loans wreaking havoc on international markets involved lending cash to people with dismal credit so that they could buy larger houses than they might actually pay for. Continue reading “I want to let you know about Should Payday Lending be Outlawed in Texas?”