Comments on: Colorado news http://paydaypundit.org/2010/04/30/colorado-news/ News and Information About The Payday Lending Industry Tue, 21 Dec 2010 17:59:56 -0800 hourly 1 http://wordpress.org/?v=3.0.1 By: Jon Schultz http://paydaypundit.org/2010/04/30/colorado-news/comment-page-1/#comment-10443 Jon Schultz Sun, 02 May 2010 19:25:32 +0000 http://paydaypundit.org/?p=8812#comment-10443 Will these six-month loans be able to be issued without a credit check, like payday loans? My guess is there will be many people who would qualify for a payday loan, or an installment payday loan, who will not qualify for a six-month loan. What are those people going to do when they have an emergency need for cash? This is why we need Federal legislation (or a Federal court decision) to invalidate state usury laws so there can simply be a free market in loans - with, of course, strong regulation to ensure that consumers are not duped into transactions that they don't understand. A free market would provide consumers with many loan choices and not just a few concocted by activists and politicians. Will these six-month loans be able to be issued without a credit check, like payday loans? My guess is there will be many people who would qualify for a payday loan, or an installment payday loan, who will not qualify for a six-month loan. What are those people going to do when they have an emergency need for cash?

This is why we need Federal legislation (or a Federal court decision) to invalidate state usury laws so there can simply be a free market in loans – with, of course, strong regulation to ensure that consumers are not duped into transactions that they don’t understand. A free market would provide consumers with many loan choices and not just a few concocted by activists and politicians.

]]> By: PDL Industry http://paydaypundit.org/2010/04/30/colorado-news/comment-page-1/#comment-10440 PDL Industry Sun, 02 May 2010 14:15:46 +0000 http://paydaypundit.org/?p=8812#comment-10440 What is this type of product? Is it a revolving line of credit? What is this type of product? Is it a revolving line of credit?

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