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Minnesotans burned by far away online lenders

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Minnesotans burned by far away online lenders

Predatory lenders from Malta, the western Indies and remote places lure borrowers into loans with annualized interest levels topping 1,500 %.

This short article had been monitored by MinnPost journalist Sharon Schmickle and stated in partnership with pupils during the University of Minnesota class of Journalism and Mass Communication. It really is one in a few periodic articles funded by way of a grant through the Northwest region Foundation.

“They have now been harassing me personally at your workplace and I also have actually suggested in their mind on a few occasions they can be aggressive . . that we can’t get non-emergency calls at your workplace and . threatening to send a constable to my work to provide me papers,” a St. Paul resident reported.

“i’ve been spending . . . $90 every 2 weeks and none from it went towards the key of $300,” a Glencoe resident penned. Read more