Yes it’s a trap which is why a lot of people see it as predatory particularly as the interest rates are (used to be?) obscene. Payday lending companies can beco

Yes it’s a trap which is why a lot of people see it as predatory particularly as the interest rates are (used to be?) obscene. Payday lending companies can become a leech on poor people. This looks a little different to the usual structure of payday lending but still has the issue you point out.