Title loans’ rates of interest are literally out of hand
John Robert Aguirre endured forlornly at RPM Lenders regarding the side of South-Central Los Angeles, slapping twenties on the countertop that is yellow.
He had been a week later along with his payment, and the anxiety showed on his face. Their loan posseses a yearly rate of interest in excess of 100per cent. He’d set up his truck as security. A missed payment could lead to the increased loss of his automobile.
“I’m a self-employed electrician, ” Aguirre, 41, explained while he completed counting out of the bills. “If we don’t have my truck, we can’t work.
