Who Qualifies For A Payday Loan Refund Check


payday loan refund checkSo, just who qualifies for a payday loan refund check and where can they get more information and find out if they are on the list?

We saw an article the other day stating a refund was on the way for some payday loan customers so we looked into what it was all about.

It does look like many customers may be getting refund checks due to some inappropriate behaviors by a few companies.

While this is a huge win for customers who were taken advantage of when they took out a payday loan from these places actually knowing who will get one and what the amount would be is still a guessing game.

Let’s take a look at what we do know and what we can expect in the coming weeks as far as who will get one and how soon!

Payday Loan Debt Relief Is Available And Everyone Qualifies For Immediate Help!

Over One Million Refund Checks!


That’s a lot of refund checks for sure!

5.5 Million dollars will be returned to around 1.1 million customers who were illegally bilked out of excess interest charges, fees and improper withdrawals from their bank accounts.

If you were one of the people who did business with companies owned by Scott Tucker under the AMG corporation between the years of January 2008 and January 2013 you may be on the list to receive a refund check.

The government sued Mr. Tucker for improperly taking unauthorized withdrawals from customers accounts and charging interest fees and adding hidden fees that were out of line with the loan contracts the customers agreed to when they took out their loans.

The companies that are involved with this scam are Ameriloan, Star Cash Processing, 500 FastCash, United Cash Loans, Advantage Cash Services, and US FastCash.

The companies in question would make unauthorized withdrawals from customers bank accounts and when the loans were written up and hidden fees were added creating huge profits for these companies at the expense of their customers, not exactly a good business model!

About The Lawsuit   


LawsuitThese above mentioned companies and their owner were sued in a civil suit filed by the Federal Trade Commission after customers complained of the illegal practices.

After they won the lawsuit the FTC went through all the records these companies keep and determined who were the actual victims of this fraud.

They also used these records to determine how much money each customer would receive to cover the damages done and will now automatically send out those refunds in the for of a check.

How Do I Get More Information?


You can find out more information on this lawsuit by visiting the following link: More Information

These refunds will be calculated and mailed out automatically and the recipients do not need to take any action at all, but if you did have a loan at the appropriate time and do not receive a check in the next few weeks you may want to contact them through the above link.

Keep in mind that things like this do move slowly so patience is very much encouraged when dealing with this issue.

Beware


bewareAs with anything involving money be very careful about how you handle this refund. It is recommended you cash the check as soon as you receive it to ensure the funds are available and do not spend the money until the check has actually cleared your bank.

If you spend the money and the check should bounce you will be on the hook with your bank for the amount of the check and any fees associated with a bounced check.

It is best to just put it in the bank and wait for the check to completely clear.

Also be on the lookout for scammers!

The FTC will not contact you in any way about these refunds, they will simply mail you a refund check so if people come calling and asking you for fees to get a refund check or cash the check you are being scammed.

Be Alert and be safe!

Summary


Thanks for stopping by and we hope you found the information you were looking for.

We always want to hear from our visitors!

If you have any questions that were not covered here in this article or if you simply want to leave us a comment you may do so in the comment section below.

We read them every day and will respond promptly!

Payday Loan Debt Relief Is Available And Everyone Qualifies For Immediate Help!

12 thoughts on “Who Qualifies For A Payday Loan Refund Check”

  1. Thank you for this informative article.  I find it interesting that 5.5 million dollars will be returned to over a million people. It’s unfortunate that we live in a world where dishonesty is common place. Excess interest charges and illegal withdrawals from bank accounts is a travesty.

    I haven’t heard of Scott Tucker or the AMG Corporation, Star Cash Procession, 500 FastCash, Ameriloan or the rest of the companies you mentioned, but I’m happy to know there was a lawsuit against the perpetrators, and those who were cheated, will be getting their money back. 

    1. Hi, Holly!

      It seems that the norm anymore is exactly as you descibe it but the good side is people are waking up and seeing this kind of stuff for what it is.

      Thanks for stopping by!

      Shawn>>

  2. This is a great initiative because in the UK struggling families are riddle with payday loan and loan sharks who charge too much interest. This will help those going through tough times with payday loans a breather.

    Is the refund enforceable through legal means?  Is there an assessment for qualified families or individuals?

    1. Hi, Padedayo!

      Yes, the refund is enforceable and the only assessment to qualify is by having used one of the above mentioned companies.

      Keep in mind we can help with any out of control payday loan debt you may have so please feel free to contact us for more information!

      Shawn>>

  3. Yet another taken down by the FTC.  Good for the customers who were taken advantage of!  However you make a very valid point in your article bout scammers and and fraudsters taking advantage of this and try to get people to send them some sort of private info or a credit card number, or any other sort of way to get them.

    We always have to be very vigilant, online and offline! It seems that these scammers find new ways to screw people every minutes of the day!

    Very informative article! I am not one of the people that is involved in this, but hopefully you will reach the ones who are! 

    1. Hi, Denis!

      You are spot on, the scammers look for any way possible to get people’s money, and they do not care who you are or what your situation is, only if there is anything left for them!

      Thanks for stopping by and glad you are not involved with these loans!

      Shawn>>

  4. That is great news for the people who will get refunds.  My belief is that payday loans are borderline loan sharks.  I know they cater to the desperate which is so sad.  Good people who are struggling are just looking for some help and end up getting in deeper.  I would suggest to people that they do what ever it takes to stay away from any sort of payday loan.  It is short term relief for long term pain.

    1. Hi, Dale!

      Just like with everything in this world you can get burned if you do not understand what you are dealing with. You can safely use payday loans if you follow some simple rules that are covered in this article: Safe Payday Loans: The Facts

      Thanks for stopping by and if you ever need any helkp with payday loan debt give us a call!

      Shawn>>

  5. Wow, this sounds so shady with the warning to cash the check right away and wait for it to clear before you spend the money. Do you know if the money has been collected and held in a fund somewhere? That would ensure that the money gets to the customers. If they’re expecting the scammer/so-called businessman to just dish out the checks and make sure they’re good, I don’t think anyone is going to get the money they’re promised. I’m going to pass this information along to others who may have taken out payday loans, but it seems fishy with the warnings to cash right away! Thanks for the warning.

    1. Hi, Theresa!

      We warn everyone who deals with checks from others to always make sure their checks clear before spending the funds, it is just good practice to do that and you never have to worry about getting caught without the money.

      Today’s world is not an honest one when it comes to money and every precautions one can take is worth the effort.

      Thanks for stopping by!!

      Shawn>>

  6. I suppose payday loans fill a need, but essentially they are all thieves.  The amount of interest they charge is outrageous taking advantage of those living pay check to pay check and not being able to make it.

    The refund is pennies for those who have been dumped of their money in interest and everything else.  Would you be happy with a $5.00 refund?

    1. Hi, Stew!

      yeah, I hear what you are saying, but at least there are people out there that are trying to do something about the abuse.

      Maybe someday people will be able to avoid these companies completely, but until then we will be here helping whoever needs help with payday loan debt.

      Thanks for stopping by!

      Shawn>>

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