Need 24.14 – 64-Year-Old Single Woman Trapped By Payday Loans
Today, We alert you to a 64-year-old woman in a financial tailspin due to a payday debt trap. Initially, she reached out to us for help with her February rent. As we spoke with her and reviewed her monthly income and expenses, we discovered she was paying over $400 bi-weekly ($867 per month) for two payday loans with over 500% interest rates. The debts total $2,300, yet she will make these bi-weekly payments for eleven more months. She explained ...