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WARNING: Georgians taking right out high interest loans that may cost them their automobile

WARNING: Georgians taking right out high interest loans that may cost them their automobile

ATLANTA — Channel 2 customer adviser Clark Howard claims Georgians seeking to borrow secured on the worthiness of these car have to comprehend that the mortgage can come with a catch that is big it comes down from a name pawn business.

“It’s hard because it makes me so angry,” Howard said for me to stay calm about this.

Howard stated individuals eager for cash frequently move to title companies that are pawn. These tiny dollar loans include big interest levels.

“Almost always at 300 %,” Howard stated.

Griffin resident Mark Walls told Channel 2 Action News he pawned the title for his 2007 Chevy Trailblazer that he didn’t have a choice when. After he was left by an accident struggling to work with 2 yrs, his credit plummeted.

“I destroyed everything. It took such as for instance an and half to get social security started and income coming in year.