Borrower Nightmares: Navy pension signed over as collateral for costly quick cash

By Jason McLure

Retired Navy doctor will pay eventual $242,000 for pension "loan" of $92,000

Excerpts from this story referencing "Kathie":

"… this report …"

"… ash flow to pay for what we needed paid for at that point in time,” says Kathie, 59. “To us, they were a godsend. We didn’t even know that people were …"

"… 21.84 payable through 2015.“We’re being taken to the cleaners,” says Kathie. “I didn’t think about how much more we were paying in interest.”Ind …"

"… e of their sons, Joseph, died of a brain aneurysm at 13. His death spurred Kathie to become an advocate for organ donation and led the couple to adopt two s …"