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Does anyone know what the laws on payday loans in Utah are? What are the consumers rights?

One Response

  1. Ms.Social Worker Says:
    1

    Most states have abolished ‘payday’ loan companies, so I’m somewhat surprised that Utah still allows them. anyway, what you really want to know is this: do the Utah state ‘usury’ laws apply to me when I applied for a ‘payday’ loan. Yes, because Utah obviously allows these establishments the rights to do business, you are protected by usury laws; however, I suspect somewhere in the storefront you entered for this loan, you will find ((I suspect inconspicuously) a frame advising all clients of their rights. Usuary laws protect state residents by establishing a ‘cap’ on what payday loan companies can charge as interest. You might want to do an internet search for utah’s usury laws. There you will get the answer you’re looking for.

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