Are pay day loans illegal in the state of Connecitut?
If they are, what can I do to stop the collection and very very high interest rates?
Tags: Connecitut, illegal, loans, state
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December 7th, 2010 at 6:15 am
If they’re not, they oughta be.
I did find this…
“Payday Loans are not legal in the state of Connecticut.”
http://payday-today.us/locations_connecticut_payday_loans.php
“Currently twelve states (including Connecticut) and two territories have small loan laws or usury caps that effectively prohibit payday lending at triple-digit interest rates.”
http://www.paydayloaninfo.org/lstatus.cfm
and this one…
“Connecticut may be one tiny state, but it came out with a roar against the topic of payday loans. Up until quite recently, Connecticut had virtually no restrictions on state payday loan providers.”
http://www.paydayloansabc.com/news/July_07/profile-connecticut.htm
December 7th, 2010 at 6:40 am
Do I have this straight? You got a payday loan, and now that you cannot pay you are hoping they are illegal? Well odds are if you got the loan they are legal. Good luck