The Debt Trap: Texans taken for the trip by auto-title loans | Fort Worth Star-Telegram

Fort Worth

The Debt Trap: Texans taken for the ride by auto-title loans

By Yamil Berard

Editor’s note: One research indicates that the texan that is average about $40,000 with debt. Many of them fell victim to your simple cash available through car title loans, and that quantity is increasing. In 2013, Texans paid just as much as $360 million in charges to automobile name companies — $53 million a lot more than in 2012. Your debt Trap is a project that is collaborative the Star-Telegram, WFAA together with Austin American-Statesman directed at shining a light on loans that either assist the economically disadvantaged or devastate them, according to that you ask. This installment explores loans that are car-title. Upcoming installments can look at reverse mortgages and student education loans.

FORT WORTH — Mary Dixon had been hours far from losing her 2007 silver Mercury Mountaineer on Feb. 6. Lees meer