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In Texas, payday loan providers are receiving borrowers arrested many thanks for visiting cnnmoney.

Donnerstag, Dezember 17th, 2020

In Texas, payday loan providers are receiving borrowers arrested many thanks for visiting cnnmoney.

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Arresting individuals — or threatening to do so — over unpaid debts is unlawful in Texas for decades now.

Yet, which includesn’t stopped payday lenders from with the criminal justice system to follow a lot more than 1,500 borrowers into the state.

Payday loan providers are regularly looking at the courts searching for charges that are criminal borrowers don’t possess the funds to settle their loans on time, a study from Texas Appleseed discovered. Such fees often leads to arrest and on occasion even prison time in the event that courts choose to pursue an instance.

„as well as their crazy prices and financing practices, pay day loan companies are illegally utilizing the unlawful justice system to coerce repayment from borrowers,“ said Ann Baddour, manager regarding the Fair Financial Services Project at Texas Appleseed. (mehr …)