If the law passes to ban pay day loans and you owe a loan, what happens to the debt? ?
Pay Day Loan Debt
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Whatever new law that may be passed would not retroactively void out your existing loan….sorry. New laws take effect from the date passed and onward.
. . .you took the money. . .you pay. . .you can’t roll it over, can’t make a new loan. . .pay and get out of their clutches. . . ASAP
Debt remains unchanged
It still exists.