Know the law before taking a loan
Live in Kansas and plan to take a payday loan? Then it is important that you know a few facts about payday loans and more importantly about the law before you do so. Kansas.com reports:
Payday lenders can assess only one charge for a returned check. They must stamp "Negotiated as part of a loan made under K.S.A. 16a-2-404. Holder takes subject to claims and defenses of maker. No criminal prosecution" on the back of the check. That means you cannot be prosecuted for bouncing a check to a payday loan company.
Read more: Thinking about a payday loan?
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