Official website for STOMP, a unique combination of percussion, movement and visual comedy. Buy tickets to STOMP in NYC and on tour.
The truth is that a large portion of payday customers end up in dire financial straits because of these seemingly innocuous loans. Hereâs what happens. The average payday loan charges a fee of about $15 for every $100 borrowed. That might sound like an interest rate of 15%, but thatâs the fee for a two-week loan. On an annualized basisâwhich is how most people think about interest rates, or shouldâthat translates into a rate of 391%.
* Courier fee to pay off loan. Most closing agents now charge a fee to send the loan payoff to each lender. In some cases these fees are much more than what their actual cost is to pay the courier company. This fee is typically between $30 to $50 or more per loan payoff. * Title insurance.