Although taking right out a pay day loan might seem such as a fast treatment for a short-term shortfall of money, within the majority of situations, it really delivers borrowers deeper into financial obligation. In reality, the Consumer Financial Protection Bureau (CFPB) issued a study showing that in a 14-day duration, 80% of borrows wind up being forced to rollover their pay day loan or make an application for another loan to pay for the cash advance. This means just 20% of borrowers already have the amount of money to cover back once again their cash advance. (más…)