FTC Action Stops Massive Payday Loan Fraud Scheme

So-called "payday loans" are short-term loans or cash advances, usually for a period of 14 days, secured by a post-dated check for the full amount of the loan plus interest or other fees. Two weeks we experienced a repossession due to a old title loan that was taken out init was written off in in N. When they filed the lawsuit and received the judgment that stops the statute of limitations. Over that period of time they continue to add interest, late fees, etc. I have ignored all this and have heard nothing else.

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The country's largest payday lender, Advance America, has agreed to pay $ million to more than , North Carolina consumers under a proposed settlement agreement. The deal would resolve a class action lawsuit that accused the company of charging illegal fees and interest rates. Can a online payday loan company file a civil suit against me if I have not repaid the loan? Low need 2/3 attorneys think a lawyer is needed for this situation. In I had aquired a payday loan in Pima County, Arizona. I had to default on repaying the loan due to surgery and my inability to work. I contacted them prior and after, explaining I needed to set up a repayment plan after I returned to work weeks later.

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