Kelli Christopher About Me Page at Helium

Personal Finance > Personal Loans Are payday loans consistent with the free market?: 3 of 8

Free market exists when neither the buyer or seller are not coerced by a third party to make decisions about the goods being bought or sold. In the payday loan business, the third party is desperation. When someone makes the decision to get a payday loan it is usually because they are desperate for money. They need money to pay a utility bill, rent or to finance a car repair. Payday seems so far away and a payday loan seems like a good option. The loan will be just for a couple of weeks and in the beginning, they don't see it the loan taking more than that time to repay. They don't have cr...
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