Apps guaranteeing to вЂњadvanceвЂќ a userвЂ™s wages state they arenвЂ™t payday loan providers. What exactly will they be?
Matt Rourke / AP
Jonathan Raines needed money. a software promised to greatly help.
He searched on line for a substitute for old-fashioned payday lenders and found Earnin, which offered him $100 at that moment, become deducted from their banking account on payday.
вЂњThere are not any installments with no actually high interest,me, comparing the app favorably to a payday lenderвЂќ he told. (more…)