Felix is a 44 year old retail employee. John loses his job. He actively seeks work for many months as his savings dwindle and his unemployment…

Felix is a 44 year old retail employee. John loses his job. He actively seeks work for many months as his savings dwindle and his unemployment insurance benefits are exhausted. In order to avoid eviction, John borrows $1,000 from the local CashFast granting CashFast a security interest in his only vehicle. CashFast only makes loans at the maximum legal interest rate 10% per week, but the $100 is cheaper than eviction. John finds a new job and a second job. Between the two, he works 60 hours each week, but his take home pay is only $408 per week ($8/hour *60=$480 less $36.72 in social security and medicare taxes and $35.28 in income tax). John faithfully makes his $100 payment every week, but is never able to get ahead. Eventually John falls behind. CashFast repossesses John’s car, but the head blew a few weeks before and it only sells for $200. CashFast sues John for the difference, its repossession expenses, its collection expenses, attorney fees, and ongoing interest at 520% per year.