Dallas Morning News: Small but Significant Payday Loan Progress in Austin
May 14, 2015
Reyna thought she was doing the right thing. She needed money for a second car so her husband could get to work, and the title loan commercials made it sound so easy and painless.
It was easy — but it sure wasn’t painless. A $5,000 title loan quickly escalated to a $7,000 debt, nearly costing her both cars. She couldn’t repay the loan in full the next month and struggled to even meet monthly $150 interest-only payments.
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