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%.
Payday Loans and You. Payday loans are designed for borrowers who find themselves in a temporary bind for money and need a short term loan to help them out.Without question, payday loans are expensive and should only be used in situations where the customer can see it being paid off by the next pay period.For medium or long term needs we suggest other forms borrowing that are available on the market. Mycashcow tends to be more selective than most about issuing loans.on Payment of Loans. When a loan does not get paid on the date it is due a fee of $37.50 will be charged to the customer. It is very likely that your bank will charge an NSF fee of $42.50 per returned item. We may make other attempts to collect the fees on subsequent paydays.