So Valentine's Day falls on a Thursday.

You got a big date, but it's going on the credit card.

Tomorrow's Friday, the 15th, and you're finally getting paid.

You're going to make it.

But then your car breaks down on the way home.

You have to call a tow truck.

Tow truck driver's kind of shady says he only takes cash and he wants 300 up front to

get your car to the shop.

You don't have enough left in your account.

Your girlfriend cancels dinner when you ask her for the money so you head to that payday

lender on the corner.

The lady behind the counter says she can give you 300 on the spot.

It's alone, but she doesn't need your credit score.

She doesn't need your credit card.

She just sort of trusts you.

This is all a myth.

Jesse Eisinger is the author of the Chicken Shit Club.

It's a book about white collar crime.

The real money here is in having the borrowers not pay them back.

These borrowers are not typically able to pay off the loan when the next check comes

in.

And so what they do is they roll over these loans over and over and over again throughout

...