11 03, 2020

CFPB Finds One-in-Five Car Title Loan Borrowers Have Actually Vehicle Seized for Neglecting To Repay Financial Obligation

2020-05-30T03:50:05+00:00

CFPB Finds One-in-Five Car Title Loan Borrowers Have Actually Vehicle Seized for Neglecting To Repay Financial Obligation WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today issued a report discovering that one-in-five borrowers who remove a single-payment car name loan have actually their car seized by their lender for failing continually to repay their financial obligation. In line with the CFPB’s research, more than four-in-five among these loans are renewed a single day they truly are due because borrowers cannot manage to repay these with a solitary repayment. Significantly more than two-thirds of automobile name loan company arises from borrowers [...]

CFPB Finds One-in-Five Car Title Loan Borrowers Have Actually Vehicle Seized for Neglecting To Repay Financial Obligation 2020-05-30T03:50:05+00:00