The Hidden Expenses Of Poverty: Check Cashing, Payday Lending, & Other Scams
The Financial Confessions
00:00
Payday Loans
Chantena Cole: If transportation is the only advantage you have going for you, you're leveraging that. You can usually borrow about 25 to 50% of the car value. Once you're approved, you have to give the lender the title to the title. "This is basically just a repossession scheme," she says.
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