"pay day loans" are huge now. basically suckering people out of money due to being desperate.
around xmas two years ago a friend wanted me to get into a loan deal with him, he would lend out up to $1,000 to people and then charge them some super high interest rate plus fees and everything else. essentially if you borrowed $1,000 you had to repay almost $1800.
he got stiff by a few people, took them to court and a few of the cases the judge wouldnt allow the fees and interest he tacked on and set the max interest to 29.95% APY
