To report any unresolved problems or complaints, contact the division by telephone at or visit the website http: The legislation was killed. Accessed February 13, To apply, you will need a valid ID, an active checking account, proof of income and a working phone number. And, while not all of the efforts to pass legislation have succeeded, the fight for progress continues. Title lenders keep finding a way around state regulations, but the Kansas State Legislature has not given up yet.
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What You Need to Apply for an In-Store Loan
Legislation continues to fight the predatory lending battle with help from consumers. While Legislation has put regulations into effect, lenders continue to find ways to take as much money from those who need it the most. Lenders must follow the payday and title loan laws of Kansas. However, through loopholes, lenders continue to charge borrowers far more than Kansas Legislation has allowed through regulations. Reach out and get help. Before filing a complaint, attempt to call someone with authority at the company, such as the owner, president, or consumer complaint specialist to resolve your issue.
If you cannot reach a resolution, determine who regulates the entity, complete the Consumer Assistance Form and submit it with any supporting documentation.
In , the Kansas Catholic Conference began pursuing tougher laws for payday loans because the industry preys on the poor. With your help, the Kansas Catholic Conference might have a better chance at fighting predatory lending.
To help Kansas Legislation continue their battle against payday and title loans, and to better protect you, it is important to reach out. By understanding warning signs, Kansas regulations and where to report a lender or seek outside help, you can help set new laws and legislations in place.
This page is available as a go-to resource for title loans and payday loans in Kansas. Use this page for all the information you need, and then some. Accessed March 28, Accessed February 13, Accessed February 15, California applicants may be funded by one of several lenders, including: To report any unresolved problems or complaints, contact the division by telephone at or visit the website http: The use of high-interest loans services should be used for short-term financial needs only and not as a long-term financial solution.
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Payday and Title Loans in. Earlier this year, Kansas City race car driver Scott Tucker and his Overland Park attorney, Tim Muir, were sentenced to more than 16 years and seven years in prison , respectively, for their roles in running a much larger illegal payday loan enterprise than Moseley's. Even so, prosecutors in New York said Moseley ran an exploitative payday lending operation that preyed on financially vulnerable consumers seeking short-term loans.
Clark, 65, of Kansas City, MO, spent five years caught in the debt trap of payday loan interest when his wife's broken ankle began his high-interest cycle trap. Attorney for the Southern District of New York, in a statement. Moseley ran a group of lenders that collectively was referred to as the "Hydra Lenders," which sought out financially strapped consumers and offered them small-dollar loans ostensibly meant to be repaid by the borrower's next paycheck.
But prosecutors said Moseley's business model relied on deceptive loan terms and illegally high interest rates reaching percent. Moseley's companies would only deduct interest payments from a borrower's bank account, leaving the principal balance untouched. Moseley was also found guilty of taking personal and bank account information of consumers who had submitted information to explore the possibility of borrowing from his companies, and then withdrawing money from people who never went through with taking out the loan.
Moseley's lending businesses operated out of Kansas City, even though prosecutors said that Moseley created an appearance that the businesses were based in New Zealand or the Caribbean island of Nevis. The appearance of an offshore enterprise was meant to frustrate state investigations into Moseley's businesses, prosecutors said.
In a sentencing memorandum filed last month, Moseley's attorneys portrayed their client as a well-meaning businessman who followed bad advice from others on his path to ruin.
The memo said Moseley was drawn to payday lending by Joel Tucker, younger brother of Scott Tucker, who ran eData Solutions, a company that generated and sold consumer leads to payday lenders. When regulators stepped up enforcement of payday lending around , Moseley said he followed advice from attorneys who told him that by setting up his businesses offshore, the businesses would be legal.
Investigators, however, maintained that Moseley misled his attorneys.