Payday and Title Loans — Read Before Signing Anything

Can't repay $575 on payday? Pay $75 to extend, still owing $500 — and again — CFPB research found most payday loans go to borrowers stuck in sequences of 10+.

'$15 per $100' sounds like 15%. For two weeks, it's ~391% annualized. Loans are priced in APR for exactly this reason.

Typically ~25% per MONTH (≈300% APR), secured by the vehicle you need for work. Repossession compounds every other problem.

Selling, gigs, plasma, earned-wage access, day labor — all cost less than 400%.

Federal credit unions offer small 'payday alternative loans' with capped rates (NCUA program). Joining a credit union is often same-day.

Utility payment plans, landlord partial-payment agreements and creditor hardship programs all beat borrowing at triple digits.

211, food banks and emergency funds exist so this loan never happens. That's literally their job.