The alluring nature of payday loans has successfully managed to pull a number of people into its trap all across America. These high interest loans are basically a vehicle for lenders to earn lots of money through the act of lender. Sometimes the amount of outstanding debt becomes twice as much as the individual had borrowed. This translates to a very high interest rate. This is the reason why many state governments have put a cap on the highest interest rate that can be charged on a payday loan. If the amount of debt gets too much and you are […]