27,000 Utahns sued for nonpayment since ’05
“cash advance” shops state many clients of the 500-percent-or-so-interest loans are able to afford them. Adverts call them “hassle-free” or “quick and simple.” But payday loan providers have actually sued nearly 27,000 Utahns for nonpayment since 2005, Deseret Morning Information research discovers.
That is 24 individuals sued each or one an hour day. It will be the same in principle as suing every guy, girl and youngster in Clearfield, Midvale or Spanish Fork (each with populations of approximately 27,000).
Payday loan providers filed numerous lawsuits they accounted for 51 % of most tiny claims instances over the Wasatch Front in the past 36 months, and 58 % of these filed simply just last year, the Morning Information research programs.
The strain is much higher in some courts.