In a previous article on the subject of payday loans
and
trying to get help to extricate yourself from them, I indicated
that now available and for consumers who reside in states
where payday loans are illegal, to see the list visit: Payday
loans debt settlement.
Well, the state of Massachusetts has just stopped a
debt collection
company from trying to collect on these oppressive loans.
Why? Because the interest on payday loans can reach 350%,
and in Massachusetts the maximum interest that can be charged
to consumers is 23%. And if the loans are more than six thousand
dollars, than the issuing entity must be licensed as a small loan
company by the division of banks. Here is the source for this
story: http://www.insidearm.com/daily/debt-buying-topics/debt-buying/state-shuts-down-collection-agency-warns-other-debt-collectors-on-payday-loans/?utm_source=WhatCountsEmail&utm_medium=2012%20Insider%20Daily%20and%20Weekender&utm_campaign=ARM%20insider%20-%205-2-13&_wcsid=0F13D47E3C6910F6CB50A88E434C7C1BED9E60AF7DB59D481E31D10888B34F52
I am not going to debate the merits of these loans in
this article.
I think that the problems and the need for this service should
be apparent to anyone. This new economy of unemployment,
working down, earning less, and going into debt to simply
survive should be apparent to anyone breathing. Unfortunately the
problem is only going to get worse. This is the same reason
that people are pushing their credit cards to the max, and then
at the end of the cycle simply enrolling in a debt settlement program
and then starting the cycle over again.
These are simply the observations of a credit counselor
who has been helping people get out of debt for over ten years.
So, if you need debt relief of any kind, why not call one of the numbers below
for a completely evaluation of your situation, along
with all the solutions, so you can begin sleeping again.
The ADE Debt Relief Phone Numbers
Free Credit Counseling--- 877-766-2465
Student Loan Consolidation---877-766-2465
Free Bankruptcy Counseling-- 516-204-4640 (National Number)
Credit Restoration Counseling-888-586-2661 Inc. Credit Report Review
Each of these numbers provides Free Counseling.
Want to know who I am, simply check the links in the signature line below:
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
Rated 3rd
Nationally
Certified Credit Counselor
TalkShoe Radio Host
Member National Association of Certified Credit Counselors
Debt Expert for Gail Kasper's Top 1% Club
Top 1
Percent Club
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Profile
Author
#1 Ranked Debt Relief Newsletter
877-766-2465
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