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Archive Home > 2006 > July > 09 > Payday loans don't pay

Payday loans don't pay

Short-term lenders can trap borrowers in cycle of debt

By Christine Metz / The Bulletin
July 9, 2006

Want $300 fast?

All you need is a bank account, a pay stub and a driver's license to visit one of the many lending institutions along Bend's Third Street.

While you can walk out the door with $300 cash in hand, if you don't pay it off by the next paycheck, or three paychecks after that, the $300....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.