Category Archives: Paying Back Payday Loans

Senate Committee Targets Payday Lending. If a collection of bills filed by Sens.

Wendy Davis, D-Fort Worth, and Royce western, D-Dallas, passes this session, customers whom remove short-term, high-interest loans might be protected from exorbitant interest costs.

For Cynthia Reynosa, a $500 cash advance designed she may help her mother, struggling with arthritis rheumatoid, spend her high allowable. Nevertheless the interest she paid on the next 6 months totaled $1,200 — a lot more than twice just just what she’d lent.

Today”I was thinking I would find the money wherever I would have to find it, so she wouldn’t have to suffer anymore,” Reynosa testified during a Senate committee hearing.

If a collection of bills filed by Sens. Wendy Davis, D-Fort Worth, and Royce western, D-Dallas, passes this session, customers like Reynosa whom sign up for short-term, high-interest loans could possibly be protected. Continue reading