SAN DIEGO, Calif., April 20, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Consumer advocates have launched a new website, paydayloanregulators.com , a site aimed at educating consumers on the protections afforded to them regarding payday loans. The new website provides a road map for the complicated web of state and federal laws applicable to payday loans. paydayloanregulators.com supplies consumers with a 'do it yourself' process to escape the cycle of debt intentionally created by payday lenders. Clients are educated in regards to the inner working of the short term loan industry and empowered to fight back by exerting their legal rights.
paydayloanregulators.com offers a packaged product consisting of customized documents, templates and detailed instructions. When consumers are educated and become subject experts they can make better decisions. The service enables the average borrower to stop lenders from accessing their personal bank accounts, void illegal loan agreements and/or negotiate extended payment plans without additional fees when dealing with legal lenders. Many clients successfully establish refunds through their financial institution on transactions from illegal lenders as far back as 60 days.
paydayloanregulators.com will be of tremendous value to financially stressed consumers who originally sought out a financial solution only to find a bottomless pit of debt. "I know all too well how the monster works," said Justin Thomas the president of Payday Loan Regulators. "I was employed by an illegal 'Tribal' lender and witnessed their disregard for the law. Not having any prior experience with short term lending allowed this organization to fool me. I was sold by the professionalism they displayed through the hiring process, but it didn't take me very long to uncover the atrocities. I left the company in disgust after a short time, but determined to make a difference for borrowers."
The CFPB (Consumer Financial Protection Bureau) is seeking to establish the first federal regulations for the $46 billion industry, which has historically been overseen by states. "Payday Loan Regulators are excited about the prospect of federal regulations that will protect consumers through the CFPB and we only pray that it materializes sooner than later" Mr. Thomas commented. "If these so called businesses are hijacking Native American Organizations, in what some have called 'rent-a-tribe' lending, want will come next?"
The company's website at paydayloanregulators.com contains additional information.
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Payday Loan Regulators Justin Thomas +1 6194579267
