The REVOLVING doorPayday loan providers keep borrowers going back

The REVOLVING doorPayday loan providers keep borrowers going back

RICHMOND, Va. Elizabeth Lawson’s problems started with an $800 electric bill, caused by a malfunctioning hot water heater. However it ended up being her move that is next that her funds spinning out of control.

Lawson, whom lives within the little city of Shawsville in southwest Virginia, decided to go to a payday financing store in nearby Christiansburg. She borrowed $200, agreeing to pay for a $36 charge once she received her next personal protection check.

Then Lawson, 49, began juggling, borrowing from a single payday loan provider to simply help pay back one other. Continue reading “The REVOLVING doorPayday loan providers keep borrowers going back”