When she got her paycheck, she didn't have the money to repay the loan. Weeks turned into months, and the interest accumulated – a cycle that went on for nearly a year. I kept borrowing the money to keep up,
The federal Consumer Financial Protection Bureau (CFPB) estimates that every year, about 12 million borrowers take out these loans, and most are never subject to credit checks or other reviews to assess their ability to repay.
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