Payday loan providers held me personally afloat once I dropped from middle-income group to poverty—but they’ve also held me down

Payday loan providers held me personally afloat once I dropped from middle-income group to poverty—but they’ve also held me down

The journalism supported this story non-profit the Economic Hardship Reporting task.

Once I plunged through the middle-income group into poverty in 2013, many things I took for issued gone along the chute, like my six-figure income, my comfortable life style, and my self-esteem. But my funds, under long-lasting fix after a bitter breakup, crashed and burned.

Overnight, we became reliant on alleged “alternative” banking services—check-cashing shops, pay day loans, and prepaid credit cards—that we hardly knew existed beforehand. Continue reading “Payday loan providers held me personally afloat once I dropped from middle-income group to poverty—but they’ve also held me down”