Insane interest rates?

[thefinanceman]

how much fee do you pay for payday loans (if you ever borrwed one)? if you check out some of the fees or interest rates here http://www.moneysavingfreetips.com/no-teletrack-payday-loan.html

Mississippi ($400, 18%)
Missouri ($500, 75%)
Montana ($300, 25%)
Nebraska ($500, 15%)
Nevada (no limit, no limit)
New Hampshire ($500, no limit)
New Mexico (no limit, no limit)

75%? 25%? aren't these too high? they are more of ripoffs!

i wonder why these states allow such high fees?

[bigkid]

how much fee do you pay for payday loans (if you ever borrwed one)? if you check out some of the fees or interest rates here http://www.moneysavingfreetips.com/no-teletrack-payday-loan.html

Mississippi ($400, 18%)
Missouri ($500, 75%)
Montana ($300, 25%)
Nebraska ($500, 15%)
Nevada (no limit, no limit)
New Hampshire ($500, no limit)
New Mexico (no limit, no limit)

75%? 25%? aren't these too high? they are more of ripoffs!

i wonder why these states allow such high fees?


Payday loan is the worst financial decision you could ever make
better learn how to save your money and not live paycheck to
paycheck. If you have payments due on a monthly basis, best to
have at least 3-6 months covered in your checking and some
savings is necessary.

If you want good credit dont show the banks
that you have to take payday loans, and they know your doing a
post dated check everytime you do one of those and it shows them
not to loan you money without a co-signer.