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The Debt Trap: Texans taken for the trip by auto-title loans | Fort Worth Star-Telegram

The Debt Trap: Texans taken for the trip by auto-title loans | Fort Worth Star-Telegram

Fort Worth

The Debt Trap: Texans taken for a trip by auto-title loans

By Yamil Berard

Editor’s note: One research reveals that the texan that is average about $40,000 with debt. A number of them dropped victim to your effortless cash available through automobile name loans, and that number is rising. In 2013, Texans paid just as much as $360 million in charges to automobile name companies — $53 million a lot more than in 2012. Your debt Trap is really a project that is collaborative the Star-Telegram, WFAA while the Austin American-Statesman directed at shining a light on loans that either assist the economically disadvantaged or devastate them, based on whom you ask. This installment explores car-title loans. Upcoming installments will appear at reverse mortgages and student education loans.