Are payday loans destabilizing our armed forces?
Did you know that in last five years, relief societies have paid over $2.5 mn to help troops out of debt? One wonders why our famed armed force is so weak and unable to fight predatory payday lenders. Estripes.com reports:
Though paycheck-lending agencies aren’t springing up around military bases in Japan and South Korea like they are stateside, U.S. servicemembers needing quick cash or lower monthly credit debt payments still get caught in the “downward spiral” of predatory practices, Finch said. In Japan, U.S. servicemembers find them online.