http://jsp.org/2006/04/17/check-costs/ Mon, 18 May 2009 19:25:21 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://jsp.org/2006/04/17/check-costs/comment-page-1/#comment-441 jsp Wed, 19 Apr 2006 05:32:46 +0000 http://www.jsp.org/2006/04/17/check-costs/#comment-441 My read is that they're saying people will pay down the fee only, so that the same check is held for another two weeks. My read is that they’re saying people will pay down the fee only, so that the same check is held for another two weeks.

]]> http://jsp.org/2006/04/17/check-costs/comment-page-1/#comment-440 b Wed, 19 Apr 2006 05:28:09 +0000 http://www.jsp.org/2006/04/17/check-costs/#comment-440 Is that page suggesting that people will get another advance to get enough money to prevent the previous advance's payment check from bouncing when the place cashes it? Is that page suggesting that people will get another advance to get enough money to prevent the previous advance’s payment check from bouncing when the place cashes it?

]]> http://jsp.org/2006/04/17/check-costs/comment-page-1/#comment-439 jsp Wed, 19 Apr 2006 04:44:36 +0000 http://www.jsp.org/2006/04/17/check-costs/#comment-439 The CRL figures are <a href="http://www.responsiblelending.org/payday/faq.cfm#four" rel="nofollow">here</a>. Basically the problem seems to be that most borrowers "let it ride", accruing fees every two weeks but never paying down the balance. This is compounded by visiting multiple shops: "Borrowers, on average, receive 8 to 13 payday loans from a single payday lender per year. And, most payday borrowers go to more than one lender, dramatically increasing their total number of payday loans per year." The CRL figures are here. Basically the problem seems to be that most borrowers “let it ride”, accruing fees every two weeks but never paying down the balance. This is compounded by visiting multiple shops: “Borrowers, on average, receive 8 to 13 payday loans from a single payday lender per year. And, most payday borrowers go to more than one lender, dramatically increasing their total number of payday loans per year.”

]]> http://jsp.org/2006/04/17/check-costs/comment-page-1/#comment-438 b Wed, 19 Apr 2006 04:06:34 +0000 http://www.jsp.org/2006/04/17/check-costs/#comment-438 Huh? Those numbers don't make any sense. If the average person borrows $325 at a cost of $25 per $100, he would give them a check for $406.25, so isn't that paying $406.25 to get $325? Huh? Those numbers don’t make any sense. If the average person borrows $325 at a cost of $25 per $100, he would give them a check for $406.25, so isn’t that paying $406.25 to get $325?

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