payday loans booming in the U.K., many US lenders are turning to the U.K. in order to secure the future of their lending business.
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Over the years I’ve seen many articles critical of the short-term financial product commonly known as a “payday loan.” They have been termed abusive for their high interest rates and the fact that people often have multiple loans and fall into greater debt. I don’t challenge the fact that more of these loans go into default; it speaks to a larger problem: Where do people with credit issues get ...
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Bitterrooters are lending their support to a statewide campaignto cap the interest rates that payday and car title loaners cancharge.
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Undaunted by three legal challenges to Initiative 164, supporters of capping the maximum allowable interest rate on title and payday loans at 36 percent held a press conference Sept. 2 on the downtown Walking Mall to kick off the campaign to get it passed.
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With some of the most lenient laws regulating payday loan businesses, Missouri is crawling with them. St. Joseph has 28 from which to choose. Critics say the businesses are practicing “predatory” lending, feeding off the underprivileged. Proponents say they’re simply offering a service to those who can’t get a loan anywhere else.
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Mr. Mauge, owner of Neighborhood Tax Services, located at 652 S. Park Ave., recently added UHaul truck and trailer rentals to the income tax preparation, payday loans, check cashing, loan modifications, notary and copy/fax services he has been offering since January 2010.
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Consumers are increasingly steamed about credit practices and abuses.
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