Still, its not clear that the Cash Biz model is kosher. Taking out a payday loan isnt like writing a hot check for groceries. Regardless of when you date instant cash loans for unemployed people check, youre borrowing money because you dont have any. The promise is that you will eventually pay the money back with interest.
In the payday loan model, the check is security for the loan, not payment. Asked about the Cash Biz prosecutions in Harris County, Rudy Aguilar, director of consumer protection for the state Office of Consumer Credit Commissioner, responded, We dont believe that it would be appropriate in that scenario to move forward with those charges, he said.
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