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Bill in Congress to cap interest rates on pay day loans strikes house for Texans

Bill in Congress to cap interest rates on pay day loans strikes house for Texans

AUSTIN (Nexstar) — Just over last year, Basil Perkowski along with his spouse took down an online payday loan to pay for his crisis dental work.

“I experienced create a serious infection from a dental problem,” he said. “I happened to be planning to have to go right to the er for sepsis. It absolutely was that close.”

Perkowski didn’t have insurance that is dental claims he and their wife were not able to cover the entire quantity for their dental work. The money loan they obtained seemed workable during the time – six re re payments of $691.

“After about four re re re payments, I’d called the mortgage destination and desired to know very well what my payoff could be,” Perkowski said.

Through that telephone call, the few learned they weren’t near to paying down the loan because of high interest and finance costs.

Perkowski and their wife, Shelly, had the ability to get assistance from The community of St.

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