Category: Checkless Payday Loans

Silicon Valley just starting to break the rules against payday lenders.You know pay day loans, right?

Silicon Valley just starting to break the rules against payday lenders.You know pay day loans, right?

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Sarah G. Portales currently has her New Year’s quality: no longer loans that are payday. You realize pay day loans, right? You get down seriously to a community storefront for typically a two week loan that is included with exactly just what amounts to an interest rate that is enormous. And undoubtedly it’s unlikely you’ll be able to pay the thing back, so you take another loan with another sky high fee attached to pay the first loan and pretty soon you’ve got real trouble since you were desperate enough to take a payday loan in the first place. “Now we realize it is a cycle,” says Portales, 51, a mother that is single struggled to obtain 16 years as a custodian at San Jose State.

We came across Portales at San Jose City Hall, where City Council people are in minimum speaking about reining in issue that the Legislature has didn’t deal with for decades. Read more

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