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Payday loan interest rates?

  • Thread starter Thread starter karikature
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karikature

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how much fee do you pay for payday loans? if you check out some of the fees or interest rates here http://www.moneysavingfreetips.com/no-teletrack-payday-loan.html

Mississippi ($400, 18%)
Missouri ($500, 75%)
Montana ($300, 25%)
Nebraska ($500, 15%)
Nevada (no limit, no limit)
New Hampshire ($500, no limit)
New Mexico (no limit, no limit)

75%? 25%? aren't these too high? they are more of ripoffs!

i wonder why these states allow such high fees?
 

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