Online Payday Loans Lawsuit, Illegal Lending

October 12, 2018

At A Glance

Class activity lawsuits are now being filed against online payday lenders over claims that the companies are charging excessive interest rates – sometimes up to 800% – in disturbance of state and federal laws. Read on to learn more and to find out what you can do.

Why Are Online Payday Lenders Getting Sued?

State laws cap loan interest rates at certain percentages to cut down on predatory lending. For example, in Virginia, most businesses cannot levy more than a 12% interest rate.

It is believed that some online payday lenders, however, are charging annual percentage rates in excess of 800% in clear disturbance of these laws. While these companies claim that a loophole in the law protects them from being sued, attorneys believe otherwise and class act lawsuits are now beginning to be filed.

What’s This Loophole You’re Talking About?

Some online payday lenders are purporting to associate themselves with Native American tribes and claiming they are therefore entitled to the same “sovereign immunity” extended to these people. Having “sovereign immunity” means, more or less, that you can’t be sued.

Attorneys believe, however, that this “association” is more of a disguise. It is suspected that the online payday loan companies aren’t managed or possessed by tribal members and that any association is, in fact, a scheme to exploit sovereign immunity and skirt federal and state lending laws. Attorneys also suspect some tribes may be getting a puny fee for each loan serviced in exchange for the use of their name. Courts are becoming increasingly skeptical of this setup.

What Companies Are Under Investigation?

It is believed that this practice is widespread among online payday lenders; however, only a handful have been sued. As a result, attorneys are looking to hear from anyone who took out an online payday loan.

Some prominent lending websites include the following:

  • BigPictureLoans.com
  • MobiLoans.com
  • AmericanWebLoan.com
  • GreatPlainsLending.com
  • ClearCreekLending.com
  • PlainGreenLoans.com
  • RiverbendCash.com
  • WhiteHillsCash.com
  • TargetCashNow.com
  • GreenlineLoans.com
  • SolidOakFinance.com
  • CashFairy.com

This list is not exhaustive and only a sample of existing online payday lenders.

Attorneys want to speak with anyone who took out a payday loan online to help determine whether borrowers were charged excessive interest rates. Talking to these individuals will help the attorneys determine whether more class act lawsuits can be filed.

How Class Activity Lawsuits Can Help

In a successful case, the court could order that any loan agreements it finds to be unlawful are void and unenforceable. Furthermore, consumers may be able to get back the interest they paid in excess of the legal limit.

If you want to learn more about this investigation and find out whether you may have been taken advantage of, pack out the form on this page. After you get in touch, one of the lawyers looking into the practices of online payday lenders may then reach out to you directly to learn more about your situation. It doesn’t cost anything to talk to a lawyer.

Online Payday Loans Lawsuit, Illegal Lending

October 12, 2018

At A Glance

Class activity lawsuits are now being filed against online payday lenders over claims that the companies are charging excessive interest rates – sometimes up to 800% – in disturbance of state and federal laws. Read on to learn more and to find out what you can do.

Why Are Online Payday Lenders Getting Sued?

State laws cap loan interest rates at certain percentages to cut down on predatory lending. For example, in Virginia, most businesses cannot levy more than a 12% interest rate.

It is believed that some online payday lenders, however, are charging annual percentage rates in excess of 800% in clear disturbance of these laws. While these companies claim that a loophole in the law protects them from being sued, attorneys believe otherwise and class activity lawsuits are now kicking off to be filed.

What’s This Loophole You’re Talking About?

Some online payday lenders are purporting to associate themselves with Native American tribes and claiming they are therefore entitled to the same “sovereign immunity” extended to these people. Having “sovereign immunity” means, more or less, that you can’t be sued.

Attorneys believe, however, that this “association” is more of a disguise. It is suspected that the online payday loan companies aren’t managed or wielded by tribal members and that any association is, in fact, a scheme to exploit sovereign immunity and skirt federal and state lending laws. Attorneys also suspect some tribes may be getting a puny fee for each loan serviced in exchange for the use of their name. Courts are becoming increasingly skeptical of this setup.

What Companies Are Under Investigation?

It is believed that this practice is widespread among online payday lenders; however, only a handful have been sued. As a result, attorneys are looking to hear from anyone who took out an online payday loan.

Some prominent lending websites include the following:

  • BigPictureLoans.com
  • MobiLoans.com
  • AmericanWebLoan.com
  • GreatPlainsLending.com
  • ClearCreekLending.com
  • PlainGreenLoans.com
  • RiverbendCash.com
  • WhiteHillsCash.com
  • TargetCashNow.com
  • GreenlineLoans.com
  • SolidOakFinance.com
  • CashFairy.com

This list is not exhaustive and only a sample of existing online payday lenders.

Attorneys want to speak with anyone who took out a payday loan online to help determine whether borrowers were charged excessive interest rates. Talking to these individuals will help the attorneys determine whether more class act lawsuits can be filed.

How Class Activity Lawsuits Can Help

In a successful case, the court could order that any loan agreements it finds to be unlawful are void and unenforceable. Furthermore, consumers may be able to get back the interest they paid in excess of the legal limit.

If you want to learn more about this investigation and find out whether you may have been taken advantage of, pack out the form on this page. After you get in touch, one of the lawyers looking into the practices of online payday lenders may then reach out to you directly to learn more about your situation. It doesn’t cost anything to talk to a lawyer.

Online Payday Loans Lawsuit, Illegal Lending

October 12, 2018

At A Glance

Class activity lawsuits are now being filed against online payday lenders over claims that the companies are charging excessive interest rates – sometimes up to 800% – in disturbance of state and federal laws. Read on to learn more and to find out what you can do.

Why Are Online Payday Lenders Getting Sued?

State laws cap loan interest rates at certain percentages to cut down on predatory lending. For example, in Virginia, most businesses cannot levy more than a 12% interest rate.

It is believed that some online payday lenders, however, are charging annual percentage rates in excess of 800% in clear disturbance of these laws. While these companies claim that a loophole in the law protects them from being sued, attorneys believe otherwise and class act lawsuits are now beginning to be filed.

What’s This Loophole You’re Talking About?

Some online payday lenders are purporting to associate themselves with Native American tribes and claiming they are therefore entitled to the same “sovereign immunity” extended to these people. Having “sovereign immunity” means, more or less, that you can’t be sued.

Attorneys believe, however, that this “association” is more of a disguise. It is suspected that the online payday loan companies aren’t managed or possessed by tribal members and that any association is, in fact, a scheme to exploit sovereign immunity and skirt federal and state lending laws. Attorneys also suspect some tribes may be getting a puny fee for each loan serviced in exchange for the use of their name. Courts are becoming increasingly skeptical of this setup.

What Companies Are Under Investigation?

It is believed that this practice is widespread among online payday lenders; however, only a handful have been sued. As a result, attorneys are looking to hear from anyone who took out an online payday loan.

Some prominent lending websites include the following:

  • BigPictureLoans.com
  • MobiLoans.com
  • AmericanWebLoan.com
  • GreatPlainsLending.com
  • ClearCreekLending.com
  • PlainGreenLoans.com
  • RiverbendCash.com
  • WhiteHillsCash.com
  • TargetCashNow.com
  • GreenlineLoans.com
  • SolidOakFinance.com
  • CashFairy.com

This list is not exhaustive and only a sample of existing online payday lenders.

Attorneys want to speak with anyone who took out a payday loan online to help determine whether borrowers were charged excessive interest rates. Talking to these individuals will help the attorneys determine whether more class activity lawsuits can be filed.

How Class Activity Lawsuits Can Help

In a successful case, the court could order that any loan agreements it finds to be unlawful are void and unenforceable. Furthermore, consumers may be able to get back the interest they paid in excess of the legal limit.

If you want to learn more about this investigation and find out whether you may have been taken advantage of, pack out the form on this page. After you get in touch, one of the lawyers looking into the practices of online payday lenders may then reach out to you directly to learn more about your situation. It doesn’t cost anything to talk to a lawyer.

Online Payday Loans Lawsuit, Illegal Lending

October 12, 2018

At A Glance

Class act lawsuits are now being filed against online payday lenders over claims that the companies are charging excessive interest rates – sometimes up to 800% – in disturbance of state and federal laws. Read on to learn more and to find out what you can do.

Why Are Online Payday Lenders Getting Sued?

State laws cap loan interest rates at certain percentages to cut down on predatory lending. For example, in Virginia, most businesses cannot levy more than a 12% interest rate.

It is believed that some online payday lenders, however, are charging annual percentage rates in excess of 800% in clear disturbance of these laws. While these companies claim that a loophole in the law protects them from being sued, attorneys believe otherwise and class activity lawsuits are now beginning to be filed.

What’s This Loophole You’re Talking About?

Some online payday lenders are purporting to associate themselves with Native American tribes and claiming they are therefore entitled to the same “sovereign immunity” extended to these people. Having “sovereign immunity” means, more or less, that you can’t be sued.

Attorneys believe, however, that this “association” is more of a disguise. It is suspected that the online payday loan companies aren’t managed or wielded by tribal members and that any association is, in fact, a scheme to exploit sovereign immunity and skirt federal and state lending laws. Attorneys also suspect some tribes may be getting a petite fee for each loan serviced in exchange for the use of their name. Courts are becoming increasingly skeptical of this setup.

What Companies Are Under Investigation?

It is believed that this practice is widespread among online payday lenders; however, only a handful have been sued. As a result, attorneys are looking to hear from anyone who took out an online payday loan.

Some prominent lending websites include the following:

  • BigPictureLoans.com
  • MobiLoans.com
  • AmericanWebLoan.com
  • GreatPlainsLending.com
  • ClearCreekLending.com
  • PlainGreenLoans.com
  • RiverbendCash.com
  • WhiteHillsCash.com
  • TargetCashNow.com
  • GreenlineLoans.com
  • SolidOakFinance.com
  • CashFairy.com

This list is not exhaustive and only a sample of existing online payday lenders.

Attorneys want to speak with anyone who took out a payday loan online to help determine whether borrowers were charged excessive interest rates. Talking to these individuals will help the attorneys determine whether more class act lawsuits can be filed.

How Class Act Lawsuits Can Help

In a successful case, the court could order that any loan agreements it finds to be unlawful are void and unenforceable. Furthermore, consumers may be able to get back the interest they paid in excess of the legal limit.

If you want to learn more about this investigation and find out whether you may have been taken advantage of, pack out the form on this page. After you get in touch, one of the lawyers looking into the practices of online payday lenders may then reach out to you directly to learn more about your situation. It doesn’t cost anything to talk to a lawyer.

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