Arizona Proposition 200

“The payday lender is little more than a con man, a lender hoping his borrower won’t understand how much he is paying for that loan or be able to repay it when it is due so he can take him for another ride on the bankruptcy express.

The economic principle that the borrower is unable or unwilling to cope with is that by borrowing his next paycheck, he will have already spent the money by the time the next paycheck arrives.”

full article

This entry was posted on Friday, September 12th, 2008 at 11:03 am and is filed under Arizona proposition 200. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.