So he got a quick payday loan for the homely household re payment, then another to pay for the fuel bill, and another to help keep the lights on. In 5 years, they paid about $10,000 in interest on about $2,700 in loans.
It is situations including the Clarks' which have triggered Gov. Jay Nixon to dub the industry a "voracious predator." Nixon is proposing to change Missouri's payday financing laws and regulations from several of the most lax to your many strict within the country.