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The industry portrays it as crisis money, but experts state the company model is dependent upon repeat borrowing where in fact the loans that are original rolled once more and once again.
They may be for sale in 41 states, however they've been especially unpleasant in Ohio, one of several states hit hardest by house foreclosures.
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Jim Rokakis, treasurer of Cuyahoga County, which include Cleveland, stated, "I gone to foreclosure counseling sessions where almost everyone raised their arms," saying that they had loans that are payday.
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