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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 aid their household but struggled to pay for it straight straight straight back.

— tiny payday 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 still has a difficult time chatting concerning the a lot more than five years by which he states he struggled to cover $50,000 in interest which started with $2,500 of those loans, sometimes called “cash advances” or “check always loans.”