In Texas, payday loan providers are becoming borrowers arrested

In Texas, payday loan providers are becoming borrowers arrested Arresting individuals — or threatening to take action — over unpa > Payday lenders are regularly looking at the courts looking for unlawful fees whenever borrowers do not have the funds to settle their loans on time, a study from Texas Appleseed discovered. Such costs may lead to arrest and on occasion even prison time in the event that courts choose to pursue an incident. “as well as their crazy prices and lending practices, cash advance companies are illegally with the unlawful justice system to coerce payment from borrowers,” stated Ann Baddour, manager for the Fair Financial Services Project at Texas Appleseed. While just a part of these borrowers really wind up jail that is serving, Appleseed stated that threats of unlawful fees are an ideal way to force debtors to settle the loans, which could carry effective APRs greater than 500per cent. […]