ProPublica
@ProPublica@newsie.social  ·  activity timestamp last month

More than a dozen borrowers told the Tennessee Lookout and ProPublica that Advance Financial encouraged them to borrow more money after making minimum payments.

The lender went on to sue them once they couldn’t pay back the loan.
https://www.propublica.org/article/flex-lenders-reborrow?utm_source=mastodon&utm_medium=social&utm_campaign=mastodon-post

#News#Tennessee#PersonalFinance#Debt#Poverty#Law
Fight Back Against Fascism
@PattyHanson@mastodon.social  ·  activity timestamp last month
@ProPublica I live in Las Vegas where there's a payday lender or car title lender on just about every corner. Both are ruinous. I have used payday lenders. All you need is an open bank acct & proof of income (they only verify income annually). You write a check for the approved amt. They hold the check. In 2 wks you come back & replace the 1st ck w/another, over & over. If you can't or don't pay, they deposit the check & now you're on the hook for the debt PLUS bad check charges - a felony.