Good Samaritan pays off Arizona man’s predatory loan debt featured on USA TODAY

James Hollis can say goodbye to predatory loans with triple-digit interest rates.

After USA TODAY on Nov. 3, six good Samaritans across the country identified Hollis, who lives on social security disability and $23 a month food stamps, and the $3,050 car he acquired. I wrote about the right loan. Fixed transmission bug.

Hollis was overwhelmed by the generous offer on Monday, with Lorne Lavigne, an Encino, Calif. dentist who owns a dental technology company, covering the tab.

“I feel a great sense of relief,” said Hollis. “I didn’t know what to do. I was stuck.”

James Hollis was targeted for a predatory loan at his home in Tucson, Arizona, Monday, October 24, 2022.
USA TODAY’s Cassidy Aliza

Hollis began parking his 2006 Ford Crown Victoria (a converted former police cruiser) sideways in a carport in Tucson, Arizona.

Lavigne, who said she had provided free dental care abroad on her humanitarian trip, said she wanted to help Hollis and was surprised at the interest rates of about 155% and 202% on the car’s title loan.

Interest on these loans totaled $10,741, and records show that if Hollis paid it off over several years, the total bill would be close to $14,000.

“It felt awful,” Lavigne told USA TODAY. I understand that the interest is 200%, but is it over 200%?What if the interest on the loan is 200%?”

USA TODAY wrote about Hollis considering a high-interest loan. It’s becoming common across the country for critics and supporters to agree. Driving the trend is staggering rate of inflation Grab low paid workers who need help paying to buy in batches.

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