Exactly Just Exactly How Predatory Debt Traps Threaten Vulnerable Families

Exactly Just Exactly How Predatory Debt Traps Threaten Vulnerable Families

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A few weeks ago, Renee Bergeron—a mother that is single Duluth, Minnesota—was between paychecks and took away a little pay day loan to simply help protect her lease. When her payday arrived around, Bergeron found—much to her dismay—that she ended up being struggling to spend her bills that are basic additionally make her loan repayment. Because of this, Bergeron took down another pay day loan so that you can fund the loan that is initial. Today, almost 10 years later, Bergeron and her kiddies reside in a shelter that is homeless and she continues to be saddled with increased than $4,000 in cash advance financial obligation. […]