Chalk One Up For Consumers!

Chalk one up for consumers! The California Supreme Court unanimously held that interest rates may render a consumer loan unconscionable even in the absence of a statutory interest rate cap. http://www.courts.ca.gov/opinions/documents/S241434.PDF. The ruling has also been covered in the LA Times and the American Banker.  This allows courts to take into account the facts and equities…

A Basic Guide to Understanding Missouri Payday Loans for the Missouri Consumer

In 2003, Elliot Clark took out five short-term loans of $500 from payday lenders in Kansas City so he could keep up with the bills his security job simply could not cover. Clark juggled the five loans for five years, paying off a $500 loan and interest using loans he took from another payday lender.…

Payday Loan Alternatives and Resources

Payday loans can be useful for those who have an immediate need for cash to meet short-term obligations.  Be sure to exhaust these alternatives prior to seeking a payday loan: —Borrow from a credit union or other small loan lender. Be sure you understand all the fees and terms before you sign. Put off the expense…