07 Dec

Advance loan on benefit check costly to unemployed

The cash advance industry has discovered an innovative new and profitable way to obtain company: the unemployed.

Payday loan providers, which typically offer employees with payday loans on the paychecks, are selling the exact same solution to those included in unemployment insurance coverage.

No work? Not a problem. An average unemployed Californian getting $300 a in benefits can walk into one of hundreds of storefront operations statewide and walk out with $255 well before that government check arrives – for a $45 fee week. Read More