Caldwell pay day loans trap debtor in endless period of financial obligation

Caldwell pay day loans trap debtor in endless period of financial obligation

Letters towards the editor (picture: Gannett)

Pay day loans trap debtor in endless period of financial obligation

Predatory payday loans have already been a scourge on numerous families within our community, and yet, on a statewide and scale that is national payday financing shops tend to be more abundant than McDonald’s. a drive that is quick a number of the poorest communities in Shreveport provides you with a startling artistic of exactly how they prey in the many susceptible in our midst. The reality of payday loans is that the high cost of the loans and stringent rules of repayment not only encourage but necessitate the taking of multiple loans, thus trapping the borrower in an endless cycle of debt while one high-interest, short-term loan can sometimes be enough to get the borrower back on his or her feet. Continue reading “Caldwell pay day loans trap debtor in endless period of financial obligation”