Comments about ‘Utah lax on car title loans’
State called too friendly on high-interest deals
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i am a victim of the title loan sharks here in utah.
after paying over 1000.00 in interest on a 600.00 loan that i must pay over 1000.00 more on. i am now in grave danger of losing my work truck and have it up for sale and after seeing a lady going back and forth looking at my trk. today ive parked it blocks away and walked home to continue to look for work online.
I briefly considered one of these loans, but when they told me they would charge 360% interest I walked out. I think it is criminal that they are allowed to do this. Utah needs to get some laws on the books!
I saw an ad on TV (on E!) for Title loans for only 12% interest instead of the high "500%" interest companies. Does anyone know the name of this low interest company?
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