At the very least six folks have been jailed in Texas in the last couple of years for owing cash on pay day loans, based on a damning analysis that is new of court public records.
The financial advocacy team Texas Appleseed unearthed that significantly more than 1,500 debtors have already been struck with unlawful costs within the state — despite the fact that Texas enacted a legislation in 2012 clearly prohibiting lenders from making use of unlawful costs to gather debts.
Relating to Appleseed’s review, 1,576 complaints that are criminal given against debtors in eight Texas counties between 2012 and 2014. These complaints had been usually filed by courts with just minimal review and based entirely from the payday lender’s term and evidence that is frequently flimsy. Continue reading “Texas Is Throwing People In Jail For Failing Woefully To Pay Off Predatory Loans”