Online Payday Loan Investigation
Online payday loans may violate state law
Customers have many complaints and problems with these high interest Internet loans
A growing number of states have banned or severely restricted payday loans. Many online payday lenders continue to offer internet payday loans to customers in these states—violating state law.
Fifteen states ban payday loans: Arizona, Arkansas, Connecticut, District of Columbia, Georgia, Maryland, Massachusetts, Montana, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Vermont, and West Virginia.
These online payday lenders are charging outrageous interest rates and fees, often in excess of 500% or 600% creating a debt trap that consumers find hard to break out of. Facilitating these illegal internet payday loans are banks that debit the funds via electronic transfers from the consumers accounts.
If you are or were a resident of one of the states listed above and you have taken out an Internet Payday Loan and experienced bank fees and penalties, such as overdraft fees, please contact us.
Our firm is conducting an investigation into these potentially illegal practices and we will provide an initial review of your complaint free of charge and with no obligation.
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