Pay day loans, the latest thing in financial bankruptcy. Companies target all manner of vulnerable people, such as small businesses, students, the average person with a not-so-brilliant credit rating - and they target them for one simple thing: money. They are not interested in helping anybody, they are simply charging extortionate fees for small amounts of money, trapping people in a viscous cycle. They are now banned in many states in the US, but they are thriving in the UK. Many people opt to pay only the interest each month, never managing to get enough to pay the loan off, or if they do they need to get another one to cover their bills again. The APR is usually over 1000%, sometimes up to 5000%! For some companies, you can take out a loan of £100 for 2 weeks, and you have to pay back £155! Pay day loans are crippling people. They are effectively legal loan sharks, because more and more people are becoming trapped in the cycle. And they may seem kind and caring when you take the money out, but as soon as you miss that payment or express a problem paying that month, watch them turn. Legal fees of thousands of pounds, interest upon interest, missed payments fees - you name it. They will not help you in any way. Ban them, before they really damage the economy.

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