Learning to Live Without Payday Loans

PHOENIX - For the past 10 years, payday loan companies in Arizona have had free reign to charge customers extremely high interest rates. But July 1, that all changes.

Anthony Sandoval knows firsthand about the problems that come with payday lenders. He took out a small loan to cover a medical emergency and found himself in a cycle of debt.

Mike Sullivan with Take Charge America says that in the long run it's a good thing, because consumers will not be able to get in as much financial trouble as they could before. But now, they won't have access to easy money and will have to prioritize.

Take Charge America in north Phoenix is answering callers' questions about payday loans and providing assistance to people who've relied on them, just call 866-750-9630.

FOX 10's Dan Spindle has more.