Tag Archives: online payday loans lender

Another payday loan lender will be paying settlement fees to one the U.S. states. Arkansas will collect $80,000 from the defendants and will distribute the money based on the Arkansas Attorney General’s policy on settlement funds. So what happened? A Kansas City resident and businessman owns several LLC companies which control the operations of multiple online payday loan lender websites. These businesses allegedly operate out of a Caribbean island. These companies were accused of charging excessive fees and interest rates. Loans which were offered to the Arkansas residents had annual percentage … Continue reading →

Payday loan lenders will usually have in house collectors since the term for a loan is on average two weeks long. It doesn’t take much time to have a loan in default with direct payday loan lenders. Once the usual 120 days are up for loan collection attempts, the outstanding balance moves on to a collections agency. Your days with dealing with the original payday loan lenders are over, the default debt gets reported to the credit bureaus and you being hearing from a professional collector. The debt collectors have worse reputations than the payday loan … Continue reading →

Payday loan lenders are notorious for high interest rates. Each company can set their rate according to state regulations or any competitive rates. Predatory lenders are those who prey on the customer’s vulnerability. Recently, even banks have been under more intensive scrutiny with their practices as payday loans lenders and other wrongful practices. Some banks and credit unions have been charged with reordering transactions in order to get more overdraft fee charges. The banks have been a trusted source of financial business, and their reputation has been continuously compromised with continued reports of illegal practices. Payday Loan Lenders are not the highlight … Continue reading →