Payday loan providers still cashing in with sky-high fees. Exactly what are payday advances?
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Will be the federal government's new loan that is payday adequate to help keep short-term borrowers away from difficulty?
Short-term loan industry keeps growing
Payday advances have actually made matters that are financial for lots of people – but which hasn't stopped lenders from interested in brand new borrowers.
Among the payday loan businesses that are biggest in Australia, UK-based money Converters, is certainly going gangbusters, showing a revenue enhance of 38% when it comes to 3rd quarter associated with the 2014 economic 12 months (closing in March) in contrast to exactly the same quarter in 2013.