Kansas task assists consumers escape the predatory loan cycle

“I kept having to pay the attention onto it and wasn’t getting anywhere,” she stated.

None from it decided to go to pay down the initial $900 loan.

“The very first time I took that loan out, I became behind on lease,” Shannon stated. “Then one thing else arrived up and it also got out of hand. I possibly could never ever see getting myself from the gap. We thought the mortgage will be an encumbrance that will forever be over me.”

The Kansas Loan Pool venture, which started in 2013, has assisted 127 individuals escape predatory financial obligation. This program is a collaboration with Sunflower Bank where the predatory financial obligation is refinanced into a conventional loan. Read more