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The 400% Loan

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Transcript

Buck
I was short on rent so I got a quick payday loan. Small fee, no big deal!
Sage
Buck, that 'small fee' is often a four hundred percent annual rate. It's built to trap you.
Buck
Four HUNDRED percent? That can't be legal.
Sage
Barely. Most people can't pay it back in two weeks, so they roll it over — and it snowballs.
Buck
So the loan to fix being broke... keeps me broke.
Sage
There are real alternatives. Don't roll it over — check below first.

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