The Wolves of Main Street (pt. 2)

In the second part of our "Wolves on Main Street", we sniff out the truth about personal loans, secured credit cards, buy-now-pay-later shopping, title loans, and mail offers, and talk about ways to run these predatory lending products out of your lives and out of your towns. With high APR rates on personal loans and title loans, the interest charges on secured credit cards, the temptations of buying now to pay later, and the mail offers landing in your mailbox, there's lots of traps laying around us. Listen to this very important episode and understand why these products are all quick ways to send your financial journey back a few steps. Takeaways: Personal loans have an average APR of 300%. Some states have no limit on how much loan service providers can charge. Gross!Secured credit cards charge interest on top of the money that you put down to secure the card. There's an average of 11% of cars used for a title loan get repossessed, and the percentage of people who have to use title loans to pay their bills will surprise you!  Mail offers seem trustworthy, but the temptation is great when those offers land in your mailbox. RESOURCE: To get off the mailing lists for credit card companies, go to OptOutPrescreen.com or call 1-888-5-OPTOUT (1-888-567-8688). It removes you from TransUnion, Equifax, Experian, and Innovis' lists, as well! Want to watch this podcast? Here's the link for our YouTube channel!Check out our sponsor -- Rental Kharmahttps://www.rentalkharma.com Season One Intro Music: https://uppbeat.io/t/cruen/campingLicense code: AACFPDP424VK449S