“cash advance” shops state many clients of the 500-percent-or-so-interest loans can afford them. Advertisements call them “hassle-free” or easy and”quick.” But payday loan providers have sued almost 27,000 Utahns for nonpayment since 2005, Deseret Morning News research discovers.
That is 24 individuals sued each or one an hour day. It is the exact carbon copy of suing every guy, woman and kid in Clearfield, Midvale or Spanish Fork (each with populations of approximately 27,000). (more…)