Without a doubt about Councilman Chadis trying to manage payday loan providers

Without a doubt about Councilman Chadis trying to manage payday loan providers

Tuesday

Councilman Juan Chadis thinks short-term loan providers are preying on Lubbock’s many vulnerable residents, so he’s gearing up to introduce an ordinance directed at managing the industry in Lubbock.

Chadis is hoping Lubbock joins the almost 40 urban centers throughout the state that curently have a standard ordinance to reduce steadily the “abusive and predatory financing methods” of short-term loan providers called payday or car name loan providers. These loan providers typically provide little loans at greater rates of interest due for repayment either regarding the debtor’s next payday or through repayable installments over a length of time. Continue reading “Without a doubt about Councilman Chadis trying to manage payday loan providers”