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On Your Own: Guide to Your Legal Rights and Responsibilities as an Adult is prepared as a public service. It was put together by the Kansas Bar Association and the Kansas Bar Foundation.
Article by Paul Shipp of Kansas Legal Services
The number of Payday lenders has grown at an oddly rapid rate over the past few decades, mainly in low income areas. Typically these lenders market directly to low income borrowers, notably those on a steady, fixed, and certain income. Borrowers are often at or below the poverty level; many live off only fixed incomes and are elderly or disabled.
What is Emancipation?
Emancipation means you are legally separated from your parents or guardian and do not have to live with them.
The law in Kansas emancipates you when you are 18 years old.
Having a baby does not make you legally emancipated.
Your parents cannot emancipate you so they are no longer legally responsible for financially providing for you.
It is possible to become emancipated prior to the age of 18, which is called an Emancipated Minor.
Special report from the Center for Responsible Lending, June 2023
The national Center for Responsible Lending (CRL) reports that single-payment and payday installment loans in 31 states drain more than $2.2 billion in fees per year from borrowers whose average incomes are approximately $25,000 a year.
Car-title loans drain more than $700 million annually from borrowers in 17 states.
Together these predatory loans drain almost $3 billion annually from those families who can least afford it.
A powerful set of financial firms have delayed federal investigations or punishments into their allegedly predatory lending practices, as they seize on an industry-led lawsuit challenging the future of the Consumer Financial Protection Bureau.
By Tony Romm, October 28 Washington Post
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