The legislators at Kansas are thinking of limiting the number of payday loans one consumer can draw in all. They are concerned for the overdrawing consumers who end up deeply indebted. They also can’t ignore the need of these loans to the otherwise disqualified borrowers. Current provisions limit number of loans a borrower can have from one lender but not overall. This bill interferes in financial decisions of the borrower but otherwise the loan is indispensable so one can only prevent payday loans from springing out of control.
« Senator all set to arrest the predatory Payday Lending | Main | Michigan- et tu Brutus?? »
Comments
Verify your Comment
Previewing your Comment
This is only a preview. Your comment has not yet been posted.
Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment
As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.
Having trouble reading this image? View an alternate.
As of right now, I have four payday loans and I can't keep paying them every two weeks. I am really going crazy with these loans. I think they should be banned. Since I have started to get myself in trouble with these loans, I asked them if I make arrangements to pay off the loans and they say no, so what do you do.
Posted by: Tommie | October 05, 2006 at 07:57 AM