Rip-off: Financial specialists alert of the risky trap out-of pay day loan

Rip-off: Financial specialists alert of the risky trap out-of pay day loan

Character payday loans bad credit Medford picture you to definitely ended woman’s industry

It’s ended up selling once the a beneficial lifeline, nevertheless these issues can exit people rather more serious out-of. One-man just who sold in claims “bankruptcy is my personal sole option”.

$400 statement one to bare unbelievable betrayal

The guy expected the product carry out assist your search his solution out of monetaray hardship, nevertheless the fast loan’s high-notice payments sparked a great “vicious cycle” you to definitely spiralled towards unmanageable obligations.