Military says cash advance providers in Georgia damaging to troops which are young
The army warned Wednesday that the cash that is unlawful industry in Georgia is preying on young sailors and soldiers, endangering their morale and combat readiness by giving prepared money at high costs that will bring about financial tragedy.
At a hearing that is legislative the situation, Capt. John Cohoon, commanding officer concerning the Kings Bay submarine base, stated pay day loan providers line the road for their base since they consider young sailors and Marines ripe objectives when it comes to short-term loans which pack an interest-rate wallop.
One of his sailors, Petty Officer 2nd Class Jason Withrow, claimed their very really pay that is first loan produced a vicious duration by which he required getting nonetheless more loans to keep due to the bills and paid $7,000 in interest, with nonetheless more owed, on loans totaling $2,000. Continue reading Military says pay day loan providers in Georgia damaging to troops being young