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The usa payday advances crisis: borrow $100 in order to make ends satisfy, owe 36 times that sum

The usa payday advances crisis: borrow $100 in order to make ends satisfy, owe 36 times that sum

In Missouri, you will find 958 more payday loan providers than you will find McDonald’s restaurants as payday advances are becoming an element of the landscape that is economic

The lower the income that is regional the more payday loan facilities you will discover. Photograph: Alamy

The lower the local earnings, the more payday loan facilities you'll find. Photograph: Alamy

Final modified on Sat 9 May 2015 20.23 BST

I will be driving down Route 180 in St Louis, Missouri, past empty plazas and vacant stores, down a stretch of road that terminates in an abandoned shopping mall. Yet with this road are promises of wide range: “Loans as much as $10,000”, claims one indication. “Advances as much as $500” claims another. In comparison to the faded stores surrounding them, these brand brand new storefronts are cheerful, embellished with images of flowers or gold or even the US banner.

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