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Nevada’s Cash Advance Laws

Nevada’s Cash Advance Laws

The next is a write-up we penned in 2018 for lawyers thinking about the 2017 updates to Nevada’s loan that is payday, NRS 604A.

Updates to Nevada’s Pay Day Loan Laws.

With more than 2 times as numerous pay day loan shops than there are casinos, you’ll find an online payday loan storefront at nearly every major intersection in Las vegas, nevada. The cash advance industry in Nevada is all about a half a billion bucks per year.

Nevertheless, 92% of cash advance borrowers are not able to spend them o ff . Pay day loans are meant to fill a need that is short-term. But because of the interest that is high, borrowers ramp up stuck in a financial obligation spiral they can’t escape.