West Virginia bans payday loans
Date: Wed, 09/08/2010 - 02:43
Hi all,
Here's an interesting news which I would like to share with you.
The State of West Virginia has banned payday loans. The State's Attorney General has resolved to file a case against online payday loan lenders if they are found doing business with residents of the state. The government has taken this decision to protect the citizens from payday loan traps.
Apparently, a West Virginia Attorney has filed lawsuits against 8 payday loan companies which have declined to cooperate and help him in his investigation. These payday lenders have been asked to submit their West Virginia-based accounts to the court and stop lending activities in the state.
Hopefully, this new law will provide more protection to consumers of West Virginia.
Here's an interesting news which I would like to share with you.
The State of West Virginia has banned payday loans. The State's Attorney General has resolved to file a case against online payday loan lenders if they are found doing business with residents of the state. The government has taken this decision to protect the citizens from payday loan traps.
Apparently, a West Virginia Attorney has filed lawsuits against 8 payday loan companies which have declined to cooperate and help him in his investigation. These payday lenders have been asked to submit their West Virginia-based accounts to the court and stop lending activities in the state.
Hopefully, this new law will provide more protection to consumers of West Virginia.
Old news. Again, it did not eliminate the demand, just forced t
Old news. Again, it did not eliminate the demand, just forced the individuals to the unregulated world of the internet. Most on here have had thier issues with PDL's for whatever reason, but for every complaint on here, there are 1000's of happy customers that rely on this service. Just to explain how happy most customers are, in 2009 there were 8 complaints filed against licensed lenders in the state of Iowa. Yes, 8 complaints against the entire licensed industry!!! As for the number of complaints against IPDL's, I could not get that number, but was told that they get multiple calls everyday. That is where eliminating the legal lenders forces the demand to.
