(4,098 x Q Dashboard| A Student App x Personal Fina x A Personal Fine x E Copy of Type x E Copy of Fin A docs.google.com/document/d/1s1g5jyXKAJBCz3Me2IHOIXRndL7L4IL GRQvZlpgsx4/edit 1 HCS Global...

Extracted text: (4,098 x Q Dashboard| A Student App x Personal Fina x A Personal Fine x E Copy of Type x E Copy of Fin A docs.google.com/document/d/1s1g5jyXKAJBCz3Me2IHOIXRndL7L4IL GRQvZlpgsx4/edit 1 HCS Global Bookmarks Tm Grades: View T Rounding Calculator O All Games- Unbloc. SiS Grades and Attend..K Kahoot! | Details Copy of Types of Credit CS: Payday Loan, Bankruptcy..What Should I Do? File Edit View Insert Format Tools Add-ons Help Last edit was seconds ago 100% Normal text Calibri 11 + BI UA 回回, 三, 三ニ 6 www.ngof.org Updat 9/20/18 11. What would be the financial impact of Lily taking out this Payday Loan? How do borrowers get trapped in an inescapable cycle of borrowing money when using this type of loan? 12. Using THIS spreadsheet, calculate the total cost of Lily taking this Payday Loan. As you know, short-term loans are rarely short-term. Many borrowers renew or refinance their loan because they do not have the funds to pay it off on the due date. For this example, assume Lily renews her loan amount five times. Lily is desperate, trapped, and broke. She ended up taking the Payday Loan, and as expected, has renewed the loan five times because, with all of her other monthly bills, does not have the money available to pay it off. She still owes the full amount of her Payday Loan, and her credit card, student loan, and rent are due. She does not have enough money to make ends meet and pay all of these bills. She is now considering filing for bankruptcy. She feels this is the only way to get out of this cycle of endless, unmanageable debt. Lily reads this article about whether she should file for bankruptcy and this graphic about the different types of bankruptcy. P Type here to search 38°F F2 F3 F4 F5 F6 F7 F8 F9 F10 立