A Cycle of Debt: Kentucky Families Share Their Experiences with Payday Lending and Other High-Cost Financial Services, June 2009

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All families need reasonably-priced financial services to pay bills and provide for their families. Yet, low-income families in Kentucky often pay higher prices than higher-income families for basic financial services, such as cashing a check or taking out a small loan. This report presents information that was shared by low-income working families across the state about their financial situations and use of financial products, specifically payday loans.