tag:blogger.com,1999:blog-8597101.post3777800556934648379..comments2024-03-25T20:06:39.794-05:00Comments on Grits for Breakfast: Payday lenders still getting some Texas prosecutors, courts to carry their collections waterGritsforbreakfasthttp://www.blogger.com/profile/10152152869466958902noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-8597101.post-40549654179582296332015-01-05T21:17:09.790-06:002015-01-05T21:17:09.790-06:00I do not understand how any DA's Office could ...I do not understand how any DA's Office could justify filing criminal charges on a payday loan. I suspect that the DA's offices that have filed these were not aware of the true nature of these extortionist predatory lenders. The law is clear that theft does not occur unless at the time of the loan and the post dated check, the client intended not to pay. So many of these people are seduced into signing on-they have no idea how corrupt lawyers and lenders can coerce them into trying to pay even though they do not have the money. By the time the loan is due, they not only owe the money they borrowed, they owe massive fees in addition to the loan. This is a despicable scheme that should never be supported by any legitimate prosecutorial office. Pamela J. Lakatosnoreply@blogger.comtag:blogger.com,1999:blog-8597101.post-64342161272854372582015-01-03T08:43:17.599-06:002015-01-03T08:43:17.599-06:00FleaStiff,
My guess would be you could start a ve...FleaStiff,<br /><br />My guess would be you could start a venture like that with a couple hundred thousand dollars and maybe much less. I'm guessing that because those loan amounts are so small, say $250-$1000? The tricky part is always finding the right attorney to set it up and keep you out of trouble. Guessing again you'd need to take a close, hard look at state usury laws. A depressing business if you ask me :-(Lisa Stassihttps://www.blogger.com/profile/16754888497042943159noreply@blogger.comtag:blogger.com,1999:blog-8597101.post-75260395179464031252015-01-01T19:52:42.679-06:002015-01-01T19:52:42.679-06:00How much capital does it take to become a Payday L...How much capital does it take to become a Payday Lender?<br />FleaStiffhttps://www.blogger.com/profile/09837830811566745662noreply@blogger.com