Comment 29469

By Marques_O (registered) | Posted March 11, 2009 at 06:22:21

It's commendable that some would offer solid advice regarding payday loans. My concern, however, is that you aren’t taking into account irresponsible borrowers who are living beyond their means. Payday Loans in British Columbia has been raging a battle against payday lending for some time now. They are passing legislation that will cap rates on borrowers who have defaulted on their loans. Another piece of payday lending legislation just recently failed in Arizona that would have capped interest rates on defaulting borrowers as well. The state is in a pitched battle, as lenders want to pass legislation that will allow them to stay open past 2012, when the practice will no longer be legal. Let us hope that doesn’t happen, in Arizona or in beautiful British Columbia.

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