Mike called my talk show recently and was caught in a web of Payday Loans. He had not yet had a Total Money Makeover and was still spending like always. He kept adding loan after loan until he couldn’t beat the shell game he had created. Basically, Mike had borrowed from one trash lender to pay another, and by doing this again and again, he had created a cycle of financial death. He was panicked because he was being threatened with criminal charges for writing bad checks by the very places that have a business model based on postdated “bad” checks. The sad thing is that the only way out for
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