Story perspectives

Single Mom's Struggle: High-Interest Loan Leads to Financial Crisis

3/9/2026

Summary

Story summary

In fall 2019, Kashaye Traylor, a single mother from Rochester, New York, bought a 2013 Kia Optima for $24,000 with a 22.99% APR, financed through Credit Acceptance Corporation.
Credit Acceptance Corporation set the loan terms without considering her financial situation.
She struggled to keep up with payments and incurred late fees.
After an accident totaled her car, she received no insurance compensation.
Credit Acceptance Corporation continued to bill her, causing her to stop payments.

1 of 1

Story summary

In fall 2019, Kashaye Traylor, a single mother from Rochester, New York, bought a 2013 Kia Optima for $24,000 with a 22.99% APR, financed through Credit Acceptance Corporation.
Credit Acceptance Corporation set the loan terms without considering her financial situation.
She struggled to keep up with payments and incurred late fees.
After an accident totaled her car, she received no insurance compensation.
Credit Acceptance Corporation continued to bill her, causing her to stop payments.