It's hard to believe there are companies out there that make their money off of veterans in financial straights - but that's the case, according to a new investigation by the Center for Public Integrity. The Center's investigation found veterans who thought they were signing up for advances on their pensions, and ended up getting locked into loans with sky-high interest rates that sunk them further and further into debt.
According to CPI, these types of companies join a large list of business that tries to take advantage of military families:
CPI journalist Jason McClure spoke with several military families for his investigation, including Navy Doctor Louis Kroot and wife Kathie. The Kroots, who got an $91,566.37 advance using Dr. Kroot's military pension as collateral, will end up paying the company they borrowed from a total of $242,753.99 when all is said and done. To read more about the Kroots' plight and the CPI investigation, click here.
