“Hesson’s $5,125 loan was scheduled to be repaid over more than seven years, with $495 due monthly, for a total of $42,099.85 — that’s nearly $37,000 in interest.” You probably already know about the predatory nature of payday loans. Well, in California, it looks like they’ve come up with something even worse. LA Times: How super high-interest loans have boomed in California.