The Pain of Payday Loans and a Note on Phantom Medical Debt

This week in consumer finance news

Andy Spears

--

Photo by Earl Wilcox on Unsplash

Payday loans bring pain and a new study reveals just how much: $3 billion extracted from low-wealth communities:

And if you think payday loans are painful, check out the pain caused by Phoenix Financial collecting on medical debt that wasn’t owed — and ruining consumer credit in the process:

Speaking of payday loans, check here to find out where your state stands on payday lending interest rates.

And in case you’d like to read some fiction:

--

--

Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .