skip to main content
skip to newscasts

Thursday, March 28, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Pulling back the curtains on wage-theft enforcement in MN; Trump's latest attack is on RFK, Jr; NM LGBTQ+ equality group endorses 2024 'Rock Star' candidates; Michigan's youth justice reforms: Expanded diversion, no fees.

view newscast page
play newscast audioPlay

Transportation Secretary Pete Buttigieg says rebuilding Baltimore's Key Bridge will be challenging and expensive. An Alabama Democrat flips a state legislature seat and former Connecticut senator Joe Lieberman dies at 82.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Payday and Car Title Lenders - the Real Grinches Who Steal Christmas?

play audio
Play

Friday, December 15, 2006   

Des Moines, IA - At this time of year, some Iowans may be so desperate to buy Christmas gifts for the family that they find themselves seeking such short-term solutions as a payday loan or car title loan. But Victor Elias, with the Child and Family Policy Center, urges people to resist a temptation that could lead to financial disaster.

"What the payday lenders and the car title lenders do is trap you into a cycle of debt that people have a terrible time getting out of. It could lead to bankruptcy, or losing your vehicle, in the case of a car title loan."

Elias says these lenders count on strapped borrowers who must "roll the loan over" into another, again and again, causing the interest to add up to 300 percent or more.

"These types of lenders make 80 percent of their profits on the rollovers. So, while it looks like it's an affordable loan if you pay it off in two weeks, most people can't pay it off in two weeks, and roll it over."

Elias' advice is for people to turn to church or civic organizations for help with gifts this year, and then commit to setting up a savings account in the new year, so that next Christmas, there's money available for holiday shopping without going into debt.


get more stories like this via email

more stories
A report from the Tennessee HealthCare Campaign recommended the federal government needs to strengthen 340B drug pricing and other federal negotiation mechanisms to make needed medicines more readily available and less expensive for hospitals to purchase and administer. (Spotmatikphoto/AdobeStock)

Health and Wellness

play sound

A recent report examined how some rural Tennessee hospitals have managed to stay afloat despite financial challenges. The report includes interviews …


Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…


Nearly 13 million Americans receive health coverage through unique plans under both Medicare and Medicaid. They are known as Dual-Eligible Special Needs Plans. (Adobe Stock)

Health and Wellness

play sound

Medicare and Medicaid are key sources of health coverage for many Americans and some people qualify for assistance under both programs. With lagging …

Social Issues

play sound

New research shows more than six in 10 abortions in the U.S. last year were medically induced, and U.S. Sen. Catherine Cortez Masto - D-NV - is …

Social Issues

play sound

Missouri lawmakers are concerned with protecting people from the potential risks of the increasing accessibility of AI-generated images and videos…

Social Issues

play sound

A 2023 study from the University of Nebraska Medical Center concluded the number of Nebraskans with a mental health or substance abuse disorder has pr…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021