Re: post all you want @ http://medicb4@haapis.net/guestbook/guestbook.htm

A 'payday loan' (http://payday-loan-jhghi.freeweb7.com/map.html) (also
called a paycheck advance or 'payday advance'
(http://payday-loan.freeweb7.com)) is a small, short-term 'OpenDNS'
(http://loan) that is intended to cover a borrower's expenses until his
or her next payday. Typical loans are between $100 and $500, on a
two-week term and have interest rates in the range of 390 percent to 900
percent. The loans are also sometimes referred to as cash advances,
though that term can also refer to cash provided against a prearranged
line of credit such as a 'credit card'
(http://payday-loan.freeweb7.com/archive).
Though payday lending is primarily regulated at the state level, the
United States Congress passed a law in October 2006 that caps lending to
military personnel at 36% APR. The Defense Department called payday
lending practices "predatory", and military officers cited concerns that
payday lending exacerbated soldiers' financial challenges, jeopardized
security clearances, and even interfered with deployment schedules to
Iraq.
Some federal banking regulators and legislators seek to restrict or
prohibit the 'loans' (http://paydayloan.fatfreehost.com) not just for
military personnel, but for all borrowers, because the high costs are
viewed as an unnecessary financial drain on the lower and lower-middle
class populations who are the primary borrowers.
Lenders say these loans are often the only option available to
consumers with 'bad credit' (http://paydayloan4me.fatfreehost.com) or
who cannot get a bank loan, credit card, or other lower-interest
alternatives. Critics counter most borrowers find themselves in a worse
position when the loan is due than they were when they took the loan,
with many getting trapped in a cycle of debt.
The industry's fast-paced growth indicates a highly profitable business
model. Statistics compiled by the Center for Responsible Lending show
that the majority of the industry's profit comes from repeat borrowers
who are unable to repay loans on the due date and instead repeatedly
renew their loans, paying fees each time.


--
Hainiatow
------------------------------------------------------------------------
Hainiatow's Profile: http://www.cingularuser.com/member.php?userid=215
View this thread: http://www.cingularuser.com/showthread.php?t=29100