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Lend a program that is hand Arizonans pay back automobile title loans

Thursday, September 24th, 2020

Lend a program that is hand Arizonans pay back automobile title loans

Four community-focused businesses are introducing an application to save Maricopa County residents struggling to repay high price name loans and help wear them a road to healthier credit and monetary success.

This program is called “Lend a tactile Hand,” and it is to be had by way of a partnership involving the Arizona Community Foundation, MariSol Federal Credit Union, the Phoenix IDA, and take control America.

In accordance with the Consumer Federation of America, Arizona could be the 7th bad credit hawaii many concentrated name loan market in the nation. In its report, “Wrong Way: Wrecked by Debt,” the Federation also states this 1 in six title loan borrowers in Arizona encountered repossession of these automobile and associated charges averaging 50 % of the borrower’s outstanding loan financial obligation. (more…)