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Concern: How do payday and auto title organizations effect local economies?
- Inflated charges on payday and automobile title loans undermine neighborhood economies. Cash invested getting away from these loans is cash perhaps maybe perhaps not spent into the grouped community on valuable products and solutions. Bankruptcies, lost bank reports, and unpaid bills drain that is further economies.
- Families suffering payday and auto name loan debt drain the limited sources of faith-based as well as other local charities. The interest in monetary support far surpasses their ability to greatly help families protect lease, utilities, or medical bills.