Cash Pay Advance

The payday loan industry is under attack across the nation, including here in Arizona, as consumer advocates attempt to eliminate what they see as a predatory rip-off of poor people. Payday loan businesses - sometimes also known as cash advance businesses - have been very successful in recent years. The business provides cash to the person in return for fees which consumer advocates say are exorbitant - equaling is some cases what would be the equivalent of a 400 percent or more interest rate. In Arizona, it is possible there will be dueling ballot measures on payday loan operations this fall, one seeking to eliminate the industry in our state and another seeking to protect it, both claiming to have the interests of consumers at heart. They can actually end up with less money because they get into a repeat cycle of borrowing money and paying high fees, never able to save enough money to pay off their advances. Find Out More

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