Here. An excerpt:
[W]henever Newman [the borrower] tried to pay more than the monthly rate, the lenders encouraged him to keep his money.
“They were trying to keep that money going, to hold on to me and keep pumping cash out of me,” Newman said.
* * *
“I’ve gotta tell people to stop. ‘Think. Slow down. Sit back. Don’t do it,’ ” Newman told me. “Those loans are addicting. I always wonder, ‘Who’s gonna give me a loan?’ and all of a sudden — Bam! — here’s someone who will.”