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Legislature considering allowing cash advance loan providers

Legislature considering allowing cash advance loan providers

CONCORD — Usury is within the attention for the beholder,” stated John search, R-Rindge, president of the home Commerce Committee, as his panel on Tuesday considered allowing high-interest pay day loans in New Hampshire yet again.

Home Bill 160 relates to them as “installment loans,” however they will be much like the loans made available from the lenders that are payday fled New Hampshire following the state capped interest levels at 36 per cent.

Pay day loans are very different from name loans, which is why the debtor provides the loan provider title to his or her vehicle in return for a loan that is short-term.

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