Pay Up: House bills push for changes to short-term loans
 |
| SBJ PHOTO ILLUSTRATION BY WES HAMILTON |
In the summer of 2017, Patricia Reynolds received a large utility bill. Unable to make the payment, she acquired a $300 short-term payday loan.
“I kind of got locked into it,” Reynolds said. “I thought when I did it I could pay it off, but they told me you could pay the interest and keep the loan going, not realizing how much interest was going for that.”
Comments
Post a Comment