Charity’s Micro Loans Compete with Payday Lenders
Predatory payday lenders who use the working poor in Southern Illinois have actually one thing to concern yourself with on their own: competition from a lender that is reputable. Those looking for the loan that is small now look to the Society of St. Vincent de Paul of Southern Illinois for assistance.
The Catholic company made a decision to join up after hearing many stories from neighborhood residents.
“ we have telephone telephone phone calls daily from folks who are in difficulty with payday loan providers,” said Pat Hogrebe, development manager at St. Vincent de Paul. “I experienced a family group that took down an online payday loan for vehicle repairs along with issues repaying the mortgage. We got included a later and i found that, with all of the penalties and fees, the family had paid over $1,200 and still owed the original $200 year.