Dangers and alternatives to pay day loans

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by WWLTV.com

wwltv.com

Posted on November 6, 2013 at 9:44 AM

WWLTV.com
Email: webteam@wwltv.com | Twitter: @WWLTV

23 states have enacted regulations against them, but in Louisiana, there are no laws to protect citizens from the problems that come with pay day loans.

The numbers are staggering, and according to the Louisiana Budget Project, the annual percentage rate for a payday loan in Louisiana is 780% compared to an annual percentage rate of 24% percent for major credit cards.

Joining the Eyewitness Morning News with more on the dangers of pay day loans, and some alternatives, is David Gray.

 

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