A new lawsuit in Arkansas has started a process that could revolutionize the movements in the United States to change payday loan restrictions. The help with payday loan debts is coming from Arkansas Attorney General Dustin McDaniel who has filed a consumer-protection lawsuit against a payday lender in the United States. This is not the first time a state or government official has taken legal action against the payday loan industry, but it is a good sign for people who are tired of unscrupulous practices that many of these companies use.
Arkansas Help with Payday Loan Debts
One of the reasons that the lawsuit is being filed is because of a practice that many payday loan industries have used over the past few decades. Due to the rather modern nature of payday loans, the regulators have not been able to target every company that infringes upon the rights of debtors.
In Arkansas the government is claiming that many citizens were made to believe that the company could enforce and collect the money that was owed to them. This is an illegal practice of intimidation and the threats do not just stop with this single company. All over the nation there are payday lenders that use third parties or hassle debtors by themselves.
This is a huge problem because many citizens that have payday loans are not knowledgeable about their rights. Many do not know that they are not supposed to be able to be threatened. Furthermore, others do not know the judicial system well enough to know that they will not be put into jail for the debt that they incur.
Get Help with Payday Loan Debts
Although this news is definitely good for people who want to see more regulation of this industry, it will not help people who are already facing payday loan debt. There are thousands of Americans who are facing threats and hassle every day and the court systems will be too slow to help them avoid bankruptcy. Nonetheless, there are still many ways that people can get help with payday loan debts.
One of the main ways for people to get help with payday loan debts is to find a consolidator who is willing to speak on your behalf to reduce your monthly costs and the number of people you send it to. Once you make a payday loan settlement you will be able to rest a lot easier.
