Letters to your editor (picture: Gannett)
Payday advances trap debtor in endless cycle of debt
Predatory payday loans have already been a scourge on numerous families inside our community, yet, on a statewide and scale that is national payday financing stores tend to be more abundant than McDonald’s. a drive that is quick a number of the poorest areas in Shreveport will provide you with a startling artistic of so just how they prey regarding the many susceptible in our midst. The reality of payday loans is that the high cost of the loans and stringent rules of repayment not only encourage but necessitate the taking of multiple loans, thus trapping the borrower in an endless cycle of debt while one high-interest, short-term loan can sometimes be enough to get the borrower back on his or her feet. Continue reading Caldwell pay day loans trap debtor in endless period of financial obligation