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Navigation The Financial Debates Homepage Credit Card or Debit Card Mortgage Refinance or No Mortgage Refinance Payday Loan: Yes or No? File for Bankruptcy or Not Filing for Bankruptcy Private Health Insurance or No Private Health Insurance Planning for Retirement in your twenties: Yes or No? Investing on the Stock Market or a Conservative Savings Account Buying a Home or Renting a Home www.djgusa.com
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In a rare example of the actually suing to stop the illegal collection of payday loans, the FTC obtained a court order against Joe S. Strom and his payday loan companies, LoanPointe, LLC, Eastbrook, LLC, Ecash, and Getecash. The FTC court order restrains Strom and his companies from deceptively stating important lending terms such as applicable interest rates, amounts actually borrowed, and other facts about payday loans. The court prohibited illegal collections, too. Ordered to repay nearly $300,000 in restitution, hopefully, the FTC’s actions will deter other payday lenders from collecting payday loans in an illegal manner. susanreidsells.com
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