Who’s protecting Georgians from financial obligation traps?

Lease had been due quickly, but Brian McGhee could perhaps maybe maybe not manage to pay it. Like numerous Georgians under economic duress, the barber handed throughout the name to their automobile and borrowed cash against it.

McGhee, 36, decided to go to a title-pawn company, one of the main dotting the landscape along thoroughfares in center Georgia.

The shops can be found in virtually every town that is small Macon and Columbus. They’re almost as pervasive as fast-food joints along with check-cashing stores and small loan companies.

By capping the attention prices that may be charged to people of the military, federal law effortlessly places them off-limits to title-pawn organizations. Read more