They come to payday lenders when they are desperate to borrow a few hundred dollars, thinking they will be able to pay it back on their next payday. Last year, payday lenders took more than $10 million in excess interest from over 15,000 New Hampshire residents. It’s no wonder that 80 percent of our town welfare officers say they have worked with people who have been hurt by payday lenders. Two of the bills were written by the payday industry and cap the interest rate they can charge at “only” 390 percent for payday loans and “only” 265 percent for related car title loans. read more