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Of the 1,576 criminal complaints Appleseed analyzed, 385 resulted in the borrower making a repayment on their loan. In Collin County alone, 204 of the 700 criminal complaints based on payday lenders affidavits ended in payments totaling 131,836.
This success in using criminal charges to coerce money from borrowers means that payday lenders have a financial incentive to file criminal charges against debtors with alarming regularity -- even if those charges are eventually rightfully dismissed. Because Appleseeds study only quick loans chattanooga tn eight of Texas 254 counties, there are likely more cases statewide.
And Texas is not alone. In 2011, The Wall Street Journal found that more than a third of states allow borrowers to be jailed, even though federal law mandates that loan repayment be treated as a civil issue rather than a criminal one. Theres a lot more to learn about the practice itself, how widely its used, and its effect on consumers, Mary Spector, a law professor at Southern Methodist University who specializes in debt collection issues, told HuffPost. I think theyve uncovered the tip of the iceberg.