Who’re “payday lenders”?
“Payday loan providers” loan money for the charge whenever you compose them a personal check, in addition to loan provider guarantees to not deposit your check from 14 to 31 times. The check you compose in their mind title 2 loans will be when it comes to quantity lent as well as the cost.
Say I Would Like $100. Just how can a payday lender charge me to borrow?
What the law states in sc claims that payday lenders is only able to charge you as much as $15 per $100. Therefore, if you’d like $100, the check will be for $115. If you’d like $200, then a check will likely be for $230.