Saturday, September 04, 2004
Loan Sharks Target Military Families
Clustered around military bases, stores advertising “quick loans” and “check cashing” do a lot of business with members of the military. But their high-interest loans, often taken in moments of family crisis, can lead to a spiraling debt for our troops. Some of these companies rely on misleading advertising and deceptive practices, but they all are profiting from young servicemembers’ inexperience and from the economic hardships that currently face many people in the armed services.