Bankruptcy news of the day:

An article from ERate.

Excerpt: “Regulators have finally turned their attention to payday loans as it appears the most vulnerable consumers are being misled by the targeted marketing practices of payday lenders.  Less loan savvy consumers are being persuaded into taking on extremely high interest rate loans for what they intend to be a short term purpose but ultimately results in the payday loan consumer having to take out a succession of loans in a domino effect, one paying off the next, generating a vicious cycle of debt.  Federal regulators have finally taken notice, the payday lenders are clearly on their radar…”

Keep reading at the link below!

Credit to original article: http://goo.gl/g6Rsg