Finally, more and more states are jumping on the band wagon and going after short-term high-interest loans.
North Carolina payday loan companies beware! You are next!
Many states have already made these loans illegal and others are in the process of passing new laws.
They are also going after the companies that do not abide by the laws passed.
Such is the case in North Carolina, and we here at Help payday Loan Debt could not be happier!
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State Attorney General Roy Cooper
Just when we all were ready to give up on our lawmakers doing the right things involving these companies, along comes someone like Roy Cooper.
Attorney Cooper has decided to go ahead and sue four companies in North Carolina who have been charging an outrageous amount of interest on their payday loans.
Some of these rates went as high as 343%.
This lawsuit came about after over 100 complaints to the federal Consumer Financial Protection Bureau from consumers who took out online loans.
These customers were unaware of the incredible interest rates being charged and soon ended up in a payday loan trap.
“People sometimes don’t know what they are getting into,” Mr. Cooper said.
These companies have tried to hide behind Native American tribes. They have tried to go around usury laws, and they have renamed their loans over and over again, but the people are starting to wise up to their games.
We congratulate Mr. Copper and everyone like him who are taking the lead and going after these companies, and we urge everyone to support their efforts!
If you are dealing with out of control payday loan debt we can help you! Please give us a call toll-free at 1.877.280.5100 or fill out this form for a free no-obligation quote on how we can help!
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