Vicious pattern of pay day loans poses risk for low-income borrowers

Vicious pattern of pay day loans poses risk for low-income borrowers

1 day final might, Latoya S. had been walking her 6-year-old pit bull terrier, Gucci, as he begun to snarl excitedly at a strange guy sitting on the leading porch of her stone, two-bedroom ranch residence. The man spoke as Latoya approached her home. “You Latoya?” She nodded.

The person arrived closer because the dog’s bark expanded aloud

He handed Latoya an envelope and stated, “You’ve been served!” Latoya took the envelope and viewed the person dash to a classic, beat-up Ford Taurus. She pitched the crisp, white envelope in to the bushes close to her entry way and gone in the home. She knew she owed a couple of thousand bucks into the money shop payday lending company in Grafton, and from now on she had been sued.