According to the government’s numbers, prices are climbing for many essentials like housing, food and electricity. When money is tight, payday and title loans may seem like a lifeline, but some borrowers tell NBC 5 Responds they ended up deeper in debt.

Read on for questions consumers can consider. Plus, where to find options for fast cash.

‘NEVER ACTUALLY GETTING TO THE PRINCIPAL’

NBC 5 Responds recently reviewed a North Texas consumer’s auto title loan agreement. The consumer borrowed $2,000 and shared receipts that showed nearly $7,000 in payments over 16 months. In that time, the consumer was no closer to paying off the original loan.

“With these loans, you’re never actually getting to the principal,” said Samantha Kehl with Legal Aid of NorthWest Texas.

Kehl, an attorney, heads t

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