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The payday loan industry gives consumers short-term loans to help pay bills, cover emergency expenses or keep a check from bouncing. For those able to pay back the loan in the turnaround period, these loans can be a lifesaver, but for those who default, the interest rates can be extremely high and can cause them to keep rolling the loan over and over again, running themselves into deeper debt. This week state lawmakers consider a proposal to cap interest rates at 36%, which some in the industry say would effectively put them out of business here. We’ll look at the pros and cons of payday loans and their future in the Granite State.

Guests

• Sara Mattson, Staff Attorney with New Hampshire Legal Assistance
• Jamie Fulmer, Director of Investor Relations for Advance America, the country’s leading provider of payday cash advance services and the largest payday lending company operating in New Hampshire

We'll Also Hear From

• Dan Gorenstein, Reporter for NHPR