One of the major concerns for payday loan borrowers is the fear of high interest…

One of the major concerns for payday loan borrowers is the fear of high interest rates and fees. While many people rely on these loan services to fund emergencies and/or cover recurrent bills, there appears to be a general anxiety about the cost of such services. This fear might be accentuated by the knowledge that while most of the income made from the interest on savings accounts or bonds is taxable, the interest accrued on a payday loan is not tax deductible.

Source by mattspotya