Click on the 'Listen' button above to hear this segment. A new investigation by ProPublica looks at how black Americans in the south fill systematically fallen into a sample of signing up for Chapter 13 bankruptcy,lured in by predatory attorneys with “zero money down” plans. That starts a cycle of debt relief, but on credit, and which is very difficult to pay off. And it’s lead to a sample of revolving debt among people living paycheck-to-paycheck.
Paul Kiel is a reporter at ProPublica who writes about consumer finance. His investigation and data analysis,he says, helps illustrated how the system of bankruptcy is failing black Americans.
This episode is hosted by Todd Zwillich.
Source: thetakeaway.org