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These statistics are similar in many other states. Which means the borrower pays $400 - $500 in loan fees on a $400 loan. This really is absurd usury and will be illegal as it is not helping anyone except the lender. It is predatory lending at best that just gets borrowers in deeper debt than before."Some will say, that little man should have somewhere to go," said state Rep. Eldridge Emory, "Butif he gets money by doing this, heis just digging an opening deeper and deeper, and he is not going to get out."Several states like Vermont have currently banned this form of predatory lending. - 700 Payday Loan Lenders Not Brokers 0 Cash Advance Apr

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