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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. fluke 772 clamp meter
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Yes, but there are limits. Remember that by renewing or “rolling over” your loan, you will have to pay more finance charges. If you took out a $200 payday loan, and were charged the maximum $25 finance charge on that loan, refinancing or “rolling-over” that the loan would cost you another $25 and you would then owe $250. (The original $200 loan plus two $25 finance charges). http://k7b.ru
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