Category: Best Choice 123 Payday Loans

Report Finds Payday Lenders Illegally Criminalizing Borrowers

Report Finds Payday Lenders Illegally Criminalizing Borrowers

A study by Texas Appleseed, a statewide customer advocate and legal help company situated in Austin, unearthed that cash advance organizations illegally filed criminal complaints against borrowers whom can not manage to spend back once again their loans, a practice banned by state legislation.

Based on Texas Appleseed, between January 2012 and will 2014, 13 pay day loan businesses—which in Texas operate as Credit Access organizations so that you can skirt rate of interest and charge caps—filed a lot more than 1,500 “theft by check” or “bad check” unlawful complaints against customers struggling to spend their debt back. Read more