Archive | May 21st, 2009

Payday Loan Usury Laws: Revolving Cycle of Debt

Posted on 21 May 2009

A payday loan company that charges any amount that is greater than the legal interest rate will not be allowed to sue to recover any debt due to the illegality of the interest rate. In short, predatory lending is costing families billions of dollars each year. Usury laws are aimed at tracking down and stopping lenders from charging ridiculously high prices.

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