By: Diane Benjamin
If your bank charged you an almost 100% penalty for paying late, what would government do?
Payday loans have capped interest rates to protect borrowers.
Not so much for government
A family I know bought a vehicle out of town in September. A few weeks ago they got a Sales Tax bill for $92. With the holidays and a trip out of the state, the bill wasn’t promptly paid. They returned home to a new notice. With penalties and interest, the bill is now $176.
An almost 100% increase because they didn’t promptly kneel at government’s feet.
If a private lender did this to consumers, the Justice Department would shut them down.
Don’t expect anybody in government to care. Government thinks they are entitled to your money.
Yep, buy a car and title it in McLean County, they will find you.
Once again, laws are only for us little people.