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Predatory Lending and Repairing the Small Loan Marketplace. Elliott Clark could keep up with n’t their household’s bills whenever their spouse broke her ankle and couldn’t work.

Predatory Lending and Repairing the Small Loan Marketplace. Elliott Clark could keep up with n’t their household’s bills whenever their spouse broke her ankle and couldn’t work.

Rachel Anderson and Katie Thompson

http://www.installmentloansvirginia.org/

Elliott Clark couldn’t keep pace with their family’s bills when their spouse broke her ankle and couldn’t work. So he did exactly what an approximated twelve million People in the us do each year– he took down an online payday loan. a pay day loan is typically a little buck, short-term loan marketed as a fast, convenient answer to life’s unexpected dilemmas. Clark’s tale made headlines in Kansas City, MO where it had been stated that within the course of 5 years, Clark invested $50,000 interest on five $500 pay day loans. Continue reading Predatory Lending and Repairing the Small Loan Marketplace. Elliott Clark could keep up with n’t their household’s bills whenever their spouse broke her ankle and couldn’t work.