Payday Loans are “No Hassle” until You Try to Pay Them Back

You have probably seen those storefronts that promise “quick cash” or “instant loan approval.” In reality – these kinds of “payday loans” result in long term debt – not quick financial fixes. On average, Kentucky payday lenders keep borrowers indebted for 137 days a year – much longer than the advertised 2-week loan. Kentucky payday lenders charge an average of $15.00 per $100 borrowed, plus additional fees every two weeks. This means payday loans carry [...]