Question on Payday lending in Texas

[TXGENT]

Thanks for everyone's input about this, I still do not know what to think that after reading this article
http://money.cnn.com/2015/01/08/pf/payday-lenders-texas

I know legal input says can not be arrested but seems from this article they are doing just that taking folks to court under hot check charges. I still don't know what to think,
I guess we will see if the person goes to jail. Hope not but it seems after all input it can go either way

[Unique_Carpenter]

Ignoring that all but 3 of the sharks on my contact list play in states other than Texas:
The issue that is confusing the newsies and some comentators above is that if uncontested, a bad check charge can result in jail.
But note, if there's no data on the other side of the scales, of course that will happen.
If an affirmative defense is presented, and depending on each individual state's rules, a judge will understand that this is really a civil matter, and could easily dismiss a criminal case.
Seen it. Have also heard that a judge told the scheduling clerk that all cases from entity x or atty z go through his court.

[ck1942]

Just an aside, of course, but much of the above underscores the absolute need for many in the hobby to establish legitimate banking accounts, best, more at a credit union than a traditional bank.

Doing so offers providers, for example, some credible financial institution support -- including limited personal credit loans -- and helps establish real world financial (good) habits. I know many will say this is not a practical avenue for most folks who operate on a cash basis, but, experience can prove otherwise.

Best of luck on all non-traditional consumer loans and advances.

[marc1venture]

I have read this thread about pay-day lenders, and someone required to post-date a check. First, it is unlawful to require anyone to post-date a check for any payment obligation. Pay-day lenders are still required to disclose substantive rights, whether open or closed-end transactions, and are required to disclose as provided by federal Truth in Lending Act. I understand that state law, in most states is inadequate, but federal law has teeth. Notwithstanding the CFPB's current crackdown on these types of predators. Failure to disclose, in writing, is a $4000.00 statutory penalty, + cost to sue them, + attorney fees.

I am an advocate of consumer rights and I will share attachments outline your rights once I figure out how to share these caveats in this forum