The Debt Trap: Texans taken for the ride by auto-title loans
By Yamil Berard
EditorвЂ™s note: One research indicates that the normal Texan is about $40,000 with debt. A number of them dropped victim to your money that is easy through automobile name loans, and that number is increasing. In 2013, Texans paid up to $360 million in fees to car name companies вЂ” $53 million a lot more than in 2012. Your debt Trap is really a collaborative project by the Star-Telegram, WFAA together with Austin American-Statesman targeted at shining a light on loans that either assist the economically disadvantaged or devastate them, based on who you ask. This installment explores car-title loans. Upcoming installments can look at reverse mortgages and figuratively speaking.
FORT WORTH вЂ” Mary Dixon ended up being hours far from losing her 2007 Mercury that is silver Mountaineer Feb. 6.
Dixon, 47, of Mansfield, had lent $2,994.95 on Dec. 2 to pay for a grouped household emergency.Read More »The Debt Trap: Texans taken for the ride by auto-title loans | Fort Worth Star-Telegram