Why Utah’s Are Winding Up In Jail After Taking Right Out Pay Day Loans

Why Utah’s Are Winding Up In Jail After Taking Right Out Pay Day Loans

Payday and name loan providers offer a method to get money fast — put up the name on the automobile as security and you will get a couple of hundred bucks. The catch? The percentage that is annual, or APR, can be extremely high, meaning you get having to pay a lot more than that which you borrowed.

Utah is house for some associated with the greatest prices in the united kingdom, and a brand new report from ProPublica details exactly exactly just how many people whom neglect to keep pace with re payments have actually also wound up in prison. KUER’s Caroline Ballard talked with Anjali Tsui, the reporter whom broke the tale.

This meeting is modified for size and quality.

Caroline Ballard: exactly just How this are individuals finding yourself in jail whenever debtor’s prison is banned for more than a hundred years? (more…)