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On The Web Payday Lenders Exploit Florida’s Laws, Experts State
Payday loan providers have constantly straddled the relative line between necessary and exploitative. Payday loans might protect a medical crisis or help spend rent, nevertheless they also can get back to bite. Be it one hundred bucks, recurring costs and stratospheric interest levels can trap hopeless borrowers in a endless period of debt.
Therefore to guard residents from predatory financing, over fifty percent of all states, including Florida, have actually imposed restrictions on interest levels for short-term and installment loans provided by payday loan providers.