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So then never take a loan from a payday lender and you won't have any problems.
Installment loans and revolving credit loans don't work the same way, by the way. Not at all.
From the lenders perspective they don't. No one is arguing that. I am saying for all intents and purposes, the way rolling over a pay day loan works, is that you pay a ton of interest and fees just like you would carrying a balance on a credit line with a 3 digit interest rate. For example, if you borrow 300 dollars and take 11 months to pay it off, and in the end pay over 600 dollars for a 300 dollar loan because you kept doing roll overs, then when difference does it make in terms of the technical details in how you got there.