New Mexico payday loan law doesn’t prevent spiraling debt, critics say (Albuquerque Tribune)
However, critics say New Mexico’s new law fails to safeguard borrowers – often the poor – from becoming trapped in debt. Payday loans are short-term advances of cash against a borrower’s future paycheck or when a lender holds a borrower’s personal check and agrees to cash it later to cover the debt.
Original post by Yahoo! News Search Results for Mexico
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