Comments on: 16 States Where Extremely High Payday Loan Interest Rates Are Strictly Prohibited

By: ritchie

ritchie — Sat, 23 Oct 2010 07:11:41 +0000

The article can help every one who is going to take any loan whether a payday loan or any other such loan. 16 states are there in US from where you can get the help in saving yourself from very high interest rate. The remaining states also have many legal laws to restrict interest rate but 16 states are doing it very strictly. Some states like GA has banned payday lending completely. No body can even offer such type of loans whereas in AZ, CT, MA etc, payday lending is not specifically authorized but the interest rate must be kept towards the lower side only. It sounds really good that some states care for its people a lot; they really treat their people very positively. As mentioned in the article, there were some discrepancies in the laws of the state of Arkansas but now the payday lending is completely banned in this state, because people living on monthly pay check get attracted by these pay day loans and their lives become horrible due to these loans. If it will not be available to such people they will try to arrange the money from some other reliable source and so can save their precious money as well as their lives.

By: Do Your Homework Before You Proceed With Payday Loan Debt Settlement Programs | Debt Consolidation Payday Loans

Thu, 09 Sep 2010 23:31:43 +0000

[...] debt settlement programs. Almost every state has some specific laws to regulate payday lending. 16 states have even made this type of lending illegal. If you are living in Georgia and applying for a payday [...]

By: 6 Questions You Must Answer Before You Consider Consolidating Payday Loans | Debt Consolidation Payday Loans

Fri, 03 Sep 2010 23:56:46 +0000

[...] are sixteen states, where either payday lending is not legal or the lenders are a least strictly prohibited from [...]

By: Caught In A Horrible Pay Day Loans Debt Trap? Is Your Lender Following These Rollover Laws? | Debt Consolidation Payday Loans

Sun, 29 Aug 2010 14:13:05 +0000

[...] can file a complaint with your state authority. It is also important to note that there are a few states, where payday lending is completely prohibited. On the other hand, most of other states where this type of lending is legal have imposed certain [...]

By: Legal Restrictions On Basic Loan Terms As Per Payday Loan Law In Different States | Debt Consolidation Payday Loans

Thu, 26 Aug 2010 13:34:13 +0000

[...] In order to protect the rights and interests of consumers against predatory payday lending, the payday loan law in different states has imposed certain legal restrictions on loan terms, such as the maximum amount of loan a lender can offer, the length of the repayment period, and the maximum rates and fees that can be charged. Some states have even made these types of loan programs illegal. Others have strictly prohibited extremely high rates. Still, there are many states, where lenders are allowed to charge an unreasonably very high rate, but in most cases, there is a maximum cap. If you find out that your payday lender is charging you more than the legal limit allowed by your state or is violating any other provisions, you must file a complaint with your state authority. Click here to know where you can file a complaint against a payday lender in your state. Please note that the following list is about the payday loan laws in those 34 states where this type of lending is legal. For details on those 16 states where payday lending is prohibited, you can click here. [...]