Troy officials warn people of payday loan companies’ bad practices

A meeting was held recently in Troy City to inform residents about predatory loaning businesses, WSFA12 reported on June 12.

According to Troy City Councilwoman DeJerilyn King Henderson, many consumers did not know that they are likely paying more in interest to payday loan businesses compared to financial institutions. The public meeting held on June 11 also informed people about their rights when dealing with payday loan companies. Henderson further said that payday loan companies often target people who earn less and cannot afford to apply for regular loans. The city of Troy is one of the cities in Alabama that do not regulate payday loan companies.

The lawyers of the Greenway Bankruptcy Law, LLC, understand that in Birmingham alone, many people are burdened by overwhelming debts. If you think you are in such a situation, we may possibly offer you legal solutions to make your debt manageable again. Learn more about your legal options from us today by calling (205) 324-4000.    

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.