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‘Like a drug’: pay day loan individuals addicted to quick-cash bicycle

‘Like a drug’: pay day loan individuals addicted to quick-cash bicycle

For Raymond Chaney, applying for a payday loan ended up being like choosing a minicab to-drive acro the land. The guy were bust — and marooned.

The 66-year-old expert from Boise life from societal safety value, but lent from a web payday bank final November after his own automobile stopped working and can’t get the $400 for fixes. After 14-dayloan came due, he couldn’t pay out, therefore he or she renewed they repeatedly.