‘It left me with nothing’: the debt trap of payday loans

Some payday loans have interest rates as high as 664% - but now Minnesota will cap them at 36%, in line with some other states

Meka Armstrong of Detroit, Michigan, has struggled in a cycle of debt from payday loans for years. She first took out a payday loan in 2010 to cover the costs of medication she needs as she is disabled and lives with lupus.

Worst decision I ever made," said Armstrong. The interest rate was 49% and I thought I would get my medications and pay the money back, but when I paid the money back, it left me with nothing. That's how they get you. I, unfortunately, started the payday nightmare, and you can't get out of the loop."