Tag Archives: sues
Posted on 06. Sep, 2011 by Collections Recon.
Minnesota Attorney General Lori Swanson today filed separate lawsuits against five Internet lenders that made loans to cash-strapped Minnesota borrowers that were marketed as providing “cash between paydays,” but that contained unlawfully high annual interest rates of up to 782% percent and that were often illegally extended from paycheck to paycheck, trapping the borrower in a cycle of expensive debt. The Attorney General warned Minnesotans against taking out loans over the Internet from unlicensed lenders, citing a growing list of complaints to her office from consumers who have done business with such companies.
Posted on 06. Apr, 2010 by Collections Recon.
At courthouses across the United States, it has become increasingly common during the economic downturn for lawsuits to be filed against consumers to collect old debts. Lawyers who specialize in the practice are filing thousands of suits on behalf of large firms that have acquired debts from other companies. Although most people don’t fight the suits and lose them by default, a Dallas woman bucked the trend last October.