Attorney General warns customers — and lawmakers — about car-title loans: “there’s absolutely no reason for such astronomical rates of interest. “
DES MOINES. Attorney General yourinstallmentloans.com hours Tom Miller today cautioned customers in order to prevent car-title loans, which charge just just exactly what he called “astronomical and unjustified rates of interest. “
“Car-title loans are incredibly costly they just drive lots of people deeper into financial obligation, ” Miller stated. “On top of that, they pose the threat that is major of individuals to lose their vehicles too. “
Miller additionally had an email when it comes to Iowa Legislature:
“Pass the car-title loan bill, ” Miller stated. “Car-title loans are secured personal loans, but secured personal loans should be much cheaper because they’re supported by an automobile as security.