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As pay day loans thrive in Mississippi, neighboring states relocate to cap high rates of interest

By Anna Wolfe | October 15, 2018

Jennifer Williams nevertheless gets the telephone phone calls.

The vocals from the other line — from a single of the numerous lenders that are payday her community — says they miss her. “Do you will need any more money?” the voice asks.

For many years, Williams invested every payday driving to as much as nine shops in three split towns, having to pay an $87 cost for every $400 loan she had applied for.

Each charge ensured the shop wouldn’t deposit the check she penned them, for the money she didn’t have, through to the following month — an arrangement forbidden by state legislation.

Thanks to Jennifer Williams

Jennifer Williams, a highschool instructor in Cleveland, Miss., conquered $4,000 of financial obligation from multiple high-interest pay day loans. Williams thinks these financing shops are “sucking the life away from individuals.”

“I became taking right out pay day loans to cover bills once I had invested a lot of the cash (within my paycheck) on cash advance costs,” said Williams, a senior school instructor in Cleveland, skip. Continue reading