Tag Archives: National Consumer Law Center

The truth behind 9 debt myths

By Dana Dratch That free advice you get from friends, co-workers or the “charming” bill collector on the phone could be worth even less that what you paid for it.From the perils of acknowledging old debts to the odds of … Continue reading

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Podcast: How a $1,000 Loan Ballooned into a $40,000 Debt

By Minhee Cho When Naya Burks was strapped for cash five years ago, she borrowed $1,000 from AmeriCash Loans at an enormously high annual interest rate of 240 percent. It wasn’t long before she defaulted on payments and AmeriCash took … Continue reading

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When Lenders Sue, Quick Cash Can Turn Into a Lifetime of Debt

By Paul Kiel A version of this story will be published in the St. Louis Post-Dispatch on Sunday. Five years ago, Naya Burks of St. Louis borrowed $1,000 from AmeriCash Loans. The money came at a steep price: She had … Continue reading

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