May 02, 2013 at 15:21 PM EDT
Retirees: Avoiding the worst debt traps
CHICAGO -- If you're strapped for cash or have a poor credit rating, the offer would sound tempting: upfront cash in return for your future pension payments.But it's a debt trap, according to a recent expose by The New York Times, a "pension advance" loan charging sky-high interest rates. A Times analysis of these deals found effective interest rates ranging from 27 percent to as high as 106 ...        
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