Payday Loan Industry South Carolina Laws

By | Feb 14, 2009

Associate Press reports that the bill was approved by the South Carolina House with a 93-16 vote. Consumers will benefit in that the bill allows them to have one loan at a time for up to $600. In addition, an online database (provided by Veritec) that will be operational by February 1, 2010 will record when loans are made. Payday loan lenders will be required to check this database each time a consumer applies for a loan. Customers who are approved will also have the option of an extended payment plan if they are unable to pay within the standard two week’s time.

Share

© 2009-2019... Payday & Title Lending, - Payday Loan Biz Resources & Courses How to Start Title Loan Business Website Legal Terms Disclosure
Share
Share