FORT WORTH — The statistics are grim for a borrower that is desperate. With excessive interest levels on little payday or vehicle name loans often topping 500 %, on average 74 people every week had their cars repossessed in the Fort Worth area in 2016.

Guidelines that will don’t have a lot of some predatory financing techniques will soon be rescinded under a proposal through the authorities, drawing the critique of Texas bishops and prompting concern nationwide that existing defenses against loan sharks may damage. Nonetheless, a neighborhood system administered by the St. Vincent de Paul ministry provides an alternative to debtors. Continue reading →