Quick Tip: Payday loans can cost more than expected

hi I’m Jason Knowles with a payday loan quick tip there will soon be fewer federal regulations on payday loans so there are some things that you need to watch out for make sure you know the interest rate you are paying some of these interest rates can be super high as high as 400% also sometimes you can negotiate these interest rates and be sure to remember when taking out a payday loan these are meant to be short-term loans so pay them back quickly and don’t get out another loan to pay the first loan or you could be ballooning in debt I’m Jason Knowles for the ABC 7 i-team hey if you like that video be sure to subscribe to our ABC 7 Chicago YouTube channel

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