payday loans

Senate Moves to Severely Restrict Payday Loans

– Posted in: consumer news
Payday Loans a Trap for the Unwary

Seeking to extend protections afforded to military service members, the Senate could be poised to restrict payday loans for other consumers.  The introduced bill, Protecting Consumers from Unreasonable Credit Rates Act, seeks to limit interest rates charged at 36%. If passed it would amend the Truth in Lending Act (TILA) and provide a national usury [...]

Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

– Posted in: consumer news
National Credit Adjusters Sued for Usurious Payday Loans

National Credit Adjusters, LLC is a national “debt clearinghouse” that purchases defaulted payday loans.  Grabbing payday loans from all over the nation, National Credit Adjusters attempts to collect them in the respective states.  The payday loans associated with Arkansan consumers contain usurious interest rates that are unlawful pursuant to Arkansan law. The attorney general for [...]

National Credit Adjusters Accused of Collecting Usurious Payday Loans

– Posted in: fair debt

A New Jersey man hired the Law Office of Dimitrios Kolovos, LLC to file a lawsuit against the debt collector National Credit Adjusters L.L.C. of Hutchinson, Kansas. The Complaint alleged that the Defendant violated the Fair Debt Collection Practices Act (FDCPA). The FDCPA is powerful consumer rights statutes regulating the conduct of consumer debt collectors. [...]