Payday and name loan providers provide a method to fast get money — put up the name in your automobile as security and you will get a hundred or so bucks. The catch? The apr, or APR, can be hugely high, meaning you get having to pay a lot more than that which you borrowed.
Utah is house for some regarding the greatest prices in the united states, and a brand new report from ProPublica details exactly just how many people whom are not able to continue with re re payments have actually also finished up in jail. KUER’s Caroline Ballard talked with Anjali Tsui, the reporter who broke the tale.
This interview happens to be modified for size and quality.
Caroline Ballard: exactly just How this are individuals finding yourself https://guaranteedinstallmentloans.com in jail whenever debtor’s prison is prohibited for over a hundred years? Continue reading “Why Utahns Are Winding Up In Jail After Taking Right Out Pay Day Loans”