OMAHA, Neb. (KMTV) – For those struggling to make ends meet, payday loans sometimes can be the only option for fast cash.
However that quick money can haunt you for a while as many people can’t seem to get out of the cycle from taking these loans out-and the skyrocketing interest rates to pay it back.
In Nebraska, payday loans can range from 100 to 500 dollars and sometimes just two weeks to pay it off.
But the annual percentage rate to pay them off can be over 450-percent.
For some, that causes them to spiral into more and more debt like Diana LaCroix has a hard time making ends meet.
Times a…
Read the full article at: http://www.kmtv.com/news/local-news/payday-loans-bill-to-help-nebraskans-in-debt