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Missouri guy Paid $50,000 in Interest After using $2,500 in pay day loans

Missouri guy Paid $50,000 in Interest After using $2,500 in pay day loans

Elliott Clark borrowed cash to guide his family members but struggled to pay for it right right back.

В— — tiny pay day loans are touted as quick, short-term usage of money, but individuals like Elliott Clark of Kansas City, Missouri, call them “debt traps.”

A retired and disabled aquatic, Clark nevertheless has a time that is hard in regards to the above five years by which he states he struggled to pay for $50,000 in interest which started with $2,500 among these loans, sometimes called “cash improvements” or “check always loans.”

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