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Research through the University of Utah’s legislation school unearthed that high-interest loan providers dominate the stateвЂ™s little claims court situations, plus some for the people money that is owing even end in prison.
The analysis looked at court records from 2017 to 2018 and discovered over fifty percent of most instances in tiny claims courts like here in south Ogden had been brought by these high interest loan businesses. And in case you skip a court date вЂ” you may be jailed.
A legislation improvement in Utah sent the loan that is high-interest booming right right back into the 1980s, stated Christopher Peterson, a professor of legislation during the University of Utah, and monetary solutions manager during the customer Federation of America. Read more