Borrower Nightmares: $700 dormitory fee costs family its vehicle

Borrower Nightmares: $700 dormitory fee costs family its vehicle

Mildred Morris, a mother that is single western Virginia, destroyed her vehicle after deploying it to secure a $700 title-loan to pay for her son’s freshman university dorm fee. Amy Biegelsen/Center for Public Integrity
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Auto-title loans would be the credit of last option, but are terms fair to borrowers?

Introduction

Concerning this project – Borrower Nightmares

To mark the July 21 launch regarding the customer Financial Protection Bureau, iWatch Information is stories that are publishing borrowing nightmares: People in america from different parts of society whom borrowed cash with terms they didn’t realize and couldn’t manage.Read more