Teacher $200 cash advance forced us to brink of bankruptcy

With bills mounting up, her credit shot, and an option looming every morning of whether or not to invest her final bucks on meals or on fuel to make it to work, senior school technology instructor

went online searching for monetary hope.

The search engines led her into the site of the ongoing business called MyNextPaycheck. And within a few minutes, $200 had been deposited into her bank-account — a loan that is short-term cushion her until her next payday.

It seemed too advisable that you be real, she told a federal jury final thirty days.

It had been. Within months, she had been bankrupt.

Schmitt’s battle to spend right back that initial $200 loan, with an interest that is annual of greater than 350 per cent, is merely among the witness accounts federal prosecutors in Philadelphia have actually presented inside their racketeering conspiracy situation against Main Line business owner

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