The girl and her household had borrowed $300 from a вЂњmoney shopвЂќ devoted to short-term, high-interest loans. Struggling to repay quickly, that they had rolled on the stability as the loan provider included charges and interest. The lady additionally took away that loan in the title towards the family members vehicle and lent from other short-term loan providers.
By the time she stumbled on the Valencias for assistance, your debt had ballooned to significantly more than $10,000. The vehicle had been planned become repossessed, as well as the girl and her family members had been vulnerable to losing their property.
The Valencias and their church had the ability to assist the household save the vehicle and recuperate, however the event alerted the duo that is pastoral a growing problemвЂ”lower-income Americans caught in a never-ending loan period.