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On July 1, 2010, a law exempting payday loan companies from the 36% cap expired. [32] State Attorney General Terry Goddard initiated Operation Sunset, which aggressively pursues lenders who violate the lending cap. The expiration of the law caused many payday loan companies to shut down their Arizona operations, notably Advance America. [33]
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This is an accepted version of this page This is the latest accepted revision, reviewed on 27 December 2024. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
Loan type. Time to funding. Personal loan, payday loan, title loan. 1-7 business days. Credit card cash advance. Instant. Home equity loan, HELOC. Up to 45 days
A debt trap is a loan that is difficult or impossible to repay due to high interest payments; Moneytree charges 430% APR on payday loans in Nevada, [29] 460% in California, and 482% in Idaho. [30] Debt traps are commonly targeted mainly at low-income borrowers.
A third (34 percent) of payday loan borrowers had an income of $30,000 or less in 2022, according to California’s Department of Financial Protection & Innovation. If you are already struggling ...
Numbering plan areas and area codes of Texas with numbering plan area 281/346/713/832 highlighted. Area codes 713, 281, 832, and 346 are telephone area codes in the North American Numbering Plan (NANP) forming an overlay complex for Houston, Texas and its environs. 713 is one of the original four area codes established for Texas in 1947.
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