When people work, they get paid with a paycheck. Many times, the paycheck is not given until the end of the month. Sometimes people need the money before the paycheck is available.
In order to get money, some people use a store that will give them money. It is money that will be taken from a person¡¯s paycheck when it comes. This way, a person can spend some of the money before the end of the month.
These stores that lend out money ask that they get paid extra for their services. In fact, many of the stores charge large amounts of money for their services. So when a person gets a loan from them, they will have to pay the store a very large sum of money plus the money they borrowed. When you owe a lot of money, you are in debt.
The people who make the laws want to change that. They think that those people who have to pay so much money back are losing too much of their money. When that happens to poor people, they never seem to get out of debt.
The people who make the laws want people to be able to pay back the borrowed money slowly. They want people to be able to make regular payments. They also want to make the stores ask for less money for their services. The stores think it is the job of the people who borrow to get themselves out of debt. The stores do not want people to make payments.