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In Texas, payday lenders are becoming borrowers arrested. Texas Appleseed is contacting state and federal regulators

In Texas, payday lenders are becoming borrowers arrested. Texas Appleseed is contacting state and federal regulators

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Arresting individuals — or threatening to do this — over unpaid debts happens to be unlawful in Texas for decades now. Yet, who hasn’t stopped payday loan providers from utilizing the justice that is criminal to pursue significantly more than 1,500 borrowers into the state.

Payday loan providers are regularly looking at the courts searching for charges that are criminal borrowers do not have the funds to settle their loans on time, a study from Texas Appleseed discovered. Such costs may lead to arrest as well as prison time in the event that courts opt to pursue an incident.

“as well as their crazy prices and financing practices, cash advance companies are illegally utilising the unlawful justice system to coerce payment from borrowers,” stated Ann Baddour, manager regarding the Fair Financial Services Project at Texas Appleseed.