Let me tell you guys how this goes down on a daily basis. Customer comes in, asks what they need to get a loan. We tell them. Customer says "ok lets do it." We go through the whole verification process. They get approved. Meanwhile, a buttload of paper work prints out. We let the customer know how the whole process works, how much theyre going to pay, what the process is if they do not come in to pay. All the info the customer needs to know. We even go over our phone call policy in regards to calling them when they are due. I can bet a pretty good amount of money that out of all the customers that come in, only about 30% actually pay attention and ask questions about the loan. EVERYONE else gives us the "Can you hurry up with my cash?!?!" look. I have even had customers flat out tell me "Csn you just give me the paper work and cash and I'll read over it later..." Now on the flipside. Do I agree with the rates we charge? No. Would I myself ever get into a payday loan? Absolutely not. Customers need to be more responsible when it comes to these sort of things. Ask questions. Read the paper work before you sign. If you do not feel comfortable with the teller that is helping you, back out and go some where else. Most importantly, remember that this is NOT a traditional loan. This is a quick fix for your money problems and thats how these types of places expect to get our money back. QUICK. (Hence the calling when youre due and what not.)

Title loans are jumping through loopholes. They might start in San Antonio, but with the new ordinance consumers are told that their contract has been moved to another office, such as the one in Balcones Heights. Where the city ordinance does not apply. These costumers are being forced to resign a new contract in at a different office, and WILL NOT accept payments in the original office.

This is dumb I work at a loan office, I'm not sure how this store or other stores do it but we explain everything to the customer on what they are signing and how much they have to have to pay and how much to pay over to pay off the loan. This lady didn't get "screwed out of her money" I bet she just kept paying the refinance and not anything to the loan. I think if you can't afford to pay off a 1000 1500 dollar loan you shouldn't be borrowing that much to begin with.

Didn't even know the interest rate on the money borrowed… when has that become a defensible excuse? There needs some expectation that people pay debts on time regardless of what the interest rates are. It’s not that they’re getting duped; they’re duping themselves by making bad choices, even choosing to be uninformed. People can already curb the cost of payday loans by paying them back on time.

@ CAB, i agree state and possibly federal government should address this, but they haven't so local government has been forced to step in. Texas has [surprisingly] strong regulation and protections for other types of lending, which is one of the major reasons Texas didn't get knocked out by the housing collapse. (Fwiw, deregulation didn't protect Texas, we were protected by Texas regulations that make it near impossible to take out 2nd and 3rd mortgages on our homes.)

Put your "Big Girl" pants on and pay the bill. Use your IRS refund to pay this off. Very simple. Lesson learned.

I work with many operators across the state and have direct experience with the ordinances in Dallas, El Paso, Austin. The cities are ill equipped to regulate the industry, don't understand how it works, and really don't have the budget or time to enforce the restrictions. The cities have gotten in over their heads on this issue. What they should be worried about is roads, schools, and budgets. Let the state regulators during the legislative session handle it on the state level. CAB Consulting (my firm) is active in the session along with many industry stakeholders. Texas Credit Access Businesses are licensed, compliant, and operate legally and fairly in the state. It is the choice of consumers whether they want to use the services, let's keep it that way.

i've done a few payday loans and paid them off when they were due. i had no problems. they have you sign all kinds of documents that explain the process, the interest rate and consequences of not paying on time...or only paying a portion. sorry, read what you sign or don't sign it. ignorance is not a valid argument...and if you know you can't pay it all back, don't borrow that much. i agree they are loan sharks, but in a pinch, i was glad it was there...sorry...don't feel sorry for you

Abusive comments defending the abusive shark-loaners. Nice. Yeah, insult the victims, that shows the degree of your education and social understanding. Oh, I get it, you probably are lenders yourselves. I call them barely legal extortionists. People with money but no morals have found the way to perpetuate slavery in so different modes.

Ditto. The customer is the problem here.