“In its letter, the law firm claims faith-based groups that circulate the petition to collect signatures could be in legal trouble in two ways. Those who circulate a petition “knowing it to be false” could be guilty of a Class A misdemeanor, punishable by up to a year in jail and a $10,000 fine.”

“If you were to ask any of our 10,000 members if they want Missouri to eliminate their short-term credit options, they would tell you that, in this dismal economy, they would like policymakers to expand, not eliminate, the credit options available.”

Attorney General Dustin McDaniel (Arizona) filed a lawsuit against Josh Mitchem (Missouri) and his companies: PDL Support LLC and Platinum B Services LLC because they allegedly violate the laws.  McDaniel is strong in his conviction that these companies offer loans exceeding annual interest rates, Mitchem maintains that they are not payday lenders.

“These usurious practices are just as illegal when offered on the Internet as when they were offered from storefronts in Arkansas. “

http://www.bizjournals.com/kansascity/news/2012/01/24/arkansas-attorney-general-sues-over.html

“Jackson County might adopt restrictions on pawn shops and payday lenders along the same lines as those in place in Independence, Blue Springs and Kansas City.”

“In my opinion, the same protections given to military families should be given to hard working Missouri families.”

‘Are low-interest payday loans from credit unions “a game changer that will revolutionize payday loans”, in Megan’s words? Probably not — but if they’re not, I think it’s more about credit unions’ willingness to provide these things than it is about their ability to do so. The product exists, and it works. The problem is making it scale’

“Consumers may see payday loans as a quick fix for their immediate problems,” the Task Force says.  “Too often, though, what seemed like a blessing can turn into a curse.”

“We also need alternatives — non-predatory financial products which allow people with bad credit to repair that credit and get back on their feet. Many credit unions provide such products, but as we’ve seen, many credit unions don’t. And credit unions are in any case often difficult institutions to navigate: it’s never entirely obvious who’s allowed to join any given one.”

http://blogs.reuters.com/felix-salmon/2012/01/05/adventures-with-consumer-lending-missouri-edition/ 

“The fact is that in 2011, some 2.43 million payday loans were made — this in a state with a population of less than 6 million — and the average APR on those loans was an eye-popping 444%.”

http://blogs.reuters.com/felix-salmon/2011/12/20/missouri-payday-lending-haven/

There comes a time when one needs some extra money for an emergency without hassles. Quick money either because of an illness in the family, an unfortunate accident, or any other type of unforeseen circumstance. The reasons vary, but the best way of getting cash until your next pay period is a payday loan?

For Missouri residents a Missouri payday loan will give you cash directly into your checking account, almost instantly. You can apply online or offline. And although many people prefer to do their “cash shopping” online, offline Missouri payday loan outlets work just as well.

Online payday loan applications are all the rage these days because of the relative anonymity they provide for each person. You really don’t have to talk to anyone unless they agree to grant you the loan. By that time you’re overjoyed, so that any embarrassment or trepidation you may have felt beforehand, has diminished

Fast Approval With No Questions Asked

Missouri payday loans are easy to get. Anyone resident of the state can take advantage of these types of loans. The great news? Even if you have bad credit or have filed for bankruptcy in the past, you can still get approved for a loan.

There are a few requirements. They are (but not limited to) the following:
1. Current employment or verifiable income of at least $1000 monthly
2. Stable residence
3. 90 day old checking account

There Is a Fee for This Convenience

Using a Missouri payday loan to bridge sudden financial needs does come with a cost. The fee can seem high, i.e. up to $38 for $100 borrowed for the month. However, the convenience of having the cash exactly when you need it has tremendous value when you consider the alternative.

Missouri payday loans are convenient to get and easy to pay back. The only requirement, once you’re approved, is an authorization to your bank. The next day the money is electronically deposited into your account.

This article wouldn’t be complete without a consumer warning. Please borrow the money responsibly and make sure you have enough money allocated to pay back the loan. This will save you further financial trouble down the road and allow you to go back to the lender is you need extra cash again.