The slavery of payday lending

September, 2015

2015-09-11 13.24.41

This is the Truth In Lending Disclosure from an actual Operation HOPE client's pay day loan contract. (The client has agreed to let me take a photo as long as they could remain anonymous.)

Here is the run down:

The person Borrowed $300.00

The interest Rate is: 620.189%

The Total Interest Paid will be: $945.00

This is a 2 week loan that has been extended 2 times (total of 6 weeks).

The Total Amount paid back will be: $1245.00 !!!

And THIS -- is what we are fighting to dismantle at Operation HOPE, with Project 5117, and with our 'silver rights' movement.  A special thank you here to HOPE Inside Counselor Crystal Nickson for her help here.

Spread the word. Hope is on the way.

John Hope Bryant

Pin It on Pinterest

Share This