Borrower Nightmares: $700 dormitory fee costs family its vehicle

Borrower Nightmares: $700 dormitory fee costs family its vehicle

Mildred Morris, a single mom in western Virginia, destroyed her automobile after deploying it to secure a $700 title-loan to cover her son’s freshman university dorm charge. Amy Biegelsen/Center for Public Integrity

Auto-title loans will be the credit of last option, but they are terms reasonable to borrowers?

Introduction

About that task – 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 the us from various parts of society whom borrowed cash with terms they didn’t realize and couldn’t pay for.

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