Mr. Lee needed some emergency funds to tide him over. Borrowing from a payday loan
company online, he was borrowing again and again just to cover the interest only for the
previous loans. The interest rates were 391% - 443%. After he could not keep up with the
payments, his salary was garnished, leaving him with very little to live on. Through the credit
union’s website, he learned of the rebuild credit program and contacted the office to help him.
The credit union helped consolidate his various loans and granted him a $5,000 loan at 18%
interest to pay them off.
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