Virginia car label loan providers doled away almost 25,100 funds worthy of more $21 million during the last three months of 2010, considering studies compiled the very first time since the county been regulating the lenders.

Vehicles label loan providers was indeed unregulated during the Virginia up to October, whenever an alternate laws got impact that restricted how much the companies can charge, just how much they are able to provide as well as for just how long. In spite of the protections, over step three,five hundred borrowers skipped payments for around two months during the those people 3 months, and you will almost two hundred had their vehicles repossessed. (more…)