In the midst of the economic recession that brought the coronavirus pandemic, millions of people have been left without jobs and without a government aid check.
Some people think that the easy solution would be to go to a lender, but this decision can turn into a nightmare.
Thousands of Latinos in the United States are drowning in loans with exorbitant interest rates that can turn a 2,500 dollar advance into a debt of 18,000.
They call them "predatory loans" or "predatory loans."
The interest charged by these lenders can reach 661% in Texas, 404% in Illinois, and 304% in Florida.
California decided to act to stop them.
Drowned by predatory loans
Sept.
10, 2019
We spoke with Petra and Kenya, two Mexicans trapped in debt, we revealed how these loan stores have been installed in the Latino neighborhoods and we tell them the links of the lenders union with the White House.
In this week's episode, Julio Vaqueiro and Juan Cooper tell you all about these loans and how to avoid falling into a debt trap.
