Morgan’s Story

Kaufman County–2022 | First-time Parent


I worked in the public and had to stop when Covid was high because I was pregnant and did not want to get myself or my unborn child sick. I was getting in debt like crazy. I was 25 and pregnant with my first child. I was driving thru my town crying and trying to figure out what to do about losing my home, and everything that I had worked for so I pulled into the Cash store. Went in talked to the lady about a loan and she said she would need collateral, I told her all I had was my car. She went out and looked at the car and we went back inside and she said she could give me 7900 for a loan, I was amazed. I thought I could catch up on everything and then some.

I am not dumb but being only 25 and never dealing with anything like this before I never stopped to think. She was flying thru pages... sign here.. initial here without reading or showing me any of the information. I signed and initialed and she handed me a check and I walked out drove to the Cash Stores bank and cashed it. I felt so great to be paying all my bills. Two days later my mother came to visit and I told her and she said let me see that contract. I got it for her and for the 7900.00 borrowed my payments were 2900 per month!! I broke down and cried.

The first payment I took what I had left and paid it. When I made that payment, she told me if you ever need to reinstate your loan it would only be 1100, well that is all I could do for the next month.She again failed to tell me that the first payment I made of 2900.00 would now be non existant..so all over again I owed 12000. I begged borrowed and scraped to make the third payment of 2903.00. Then I went into early labor by 2 months. My daughter was born premature and we had to stay in the NICU for 47 days. I could not make my payment and each day as I sat in the NICU wondering if when I went out to the parking lot would my vehicle still be there..so in December I told them it would be late and they were not the nicest. I have called the Corporate office to see if I could get lower payments or possibly a hardship and to help. They said they could lower payment to 2300.. I need my car, I am a single parent who just now has been able to get another job. These people are ruthless and should be held accountable for not going over every detail of that contract and asking me if I could afford that. If I could have afforded it I would not be getting a loan. I am so lost and don't know what to do about this. I hope that changes are made with the policy makers to hold these what I call thieves liable.