A couple of dozen or more area businessmen have made quick fortunes by offering short-term cash to low-income consumers and then slamming them with ruinous interest rates and fees. The amount of money to be made by trapping people into endless debt is mindboggling. One Johnson County businessman sold his internet payday loan business for 50 million in 2012. Scott Tucker of Leawood, the most notorious of the online lenders, used his earnings to finance a fleet of race cars, a private Learjet and an 8 million vacation home in Colorado.
Payday for at least some of these lenders may be coming to an end, however. A number of federal agencies are cracking down on unscrupulous practices.
And none too soon. Responding to a lawsuit brought quick loans in san antonio tx the Federal Trade Commission, U. District Judge Dean Whipple has issued a temporary restraining order against companies controlled by Johnson County businessmen Timothy A. Coppinger and Frampton T.
Com does not have an available lender, you will not be connected to a lender. In some cases, you may be quick loans in san antonio tx the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps.
If you are connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution.
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26 Floor Old Mutual Centre 303 Dr Pixley Kaseme Str.
We offer loans between 2,001 and 20,000 for up to 36 months. When you apply well review your individual circumstances and offer a loan amount and duration that allows you to comfortably repay. How long does it take.
Your online application can be completed in under 10 minutes. Once weve assessed your application, a decision is available within the hour during business hours. Who can apply. Youre eligible for a loan if youre employed and earning more than 1,500 per month.