Texas Attorney General has sued one payday loan company
Texas Attorney General has filed lawsuit against a loan company for their deceptive lending practices. The company used to claim themselves as an Internet company but offered loan to consumers. The story is well-known. They charged $30 biweekly for a $100 loan. Until you pay the principal amount back, they will continue charging your account.
So in a year, they collected $720 + wrap up fees for a $100 loan!!! Hence they charged 782% rate of interest, whereas Texas usury law restricts rate of interest at 10% only.
Now they lawsuit says they have to reimburse the amount collected from consumers illegally. Moreover they have to pay penalty of $20,000 per violation of Texas Deceptive Trade Practices Act and $10,000 per violation of Texas Finance Code.
Payday lenders, beware, the wheel has started turning to the opposite direction.
Source: WacoTrib.com
June 3rd, 2006 at 10:13 am
stan please i need to send all the papers of citibank to attorney general of florida and i want to ask you if is better to send this papers for federal reserve bank ,too.my husband get a big debt because citybank and they are not suppost harassed him to pay all the fees ,finance charges etc in many accounts here.accounts of credit cards without credit cards and i have here a account from city bank with 2 balances.i think this is identity theft and citibank make a debit for him of 15.000 dollars and you never used this cards for buy things for us.our luck was when ltd 77074 was abusing and was robbing my husband i found debt consolidation care forum and i m very happy for it.my husband is very sick always(mentally) and each day he gets worst in his vision.he said always the govern go to give back the money they steal from him.stan i just admire you and all people from debt consilidation care for always fight for the truth and thanks again ,tania alvarez
June 5th, 2006 at 3:39 am
hi tania, could you please tell me what you mean by Papers for Federal Reserve Bank? Contacting Attorney General is definitely a good move. Go ahead, all the best
June 5th, 2006 at 7:08 pm
i have statements here charging all types of fees,late fees,monthly finance charge for a account that is not in the credit file of my husband and they continue to send statements here from may 2006 and june 2006 is caming in the mAIL.IF MY HUSBAND SINCE 1988 IS PAYING THIS ACCOUNT AND IN 1995 HE STOPED TO USE THIS card (expired)why they send this statements here with all this fees telling him he has amount available of 388,94 and he still owe 1861,06 in 2006.in 2005 city bank told him if he dont pay 1500.00 the fees will be worst!he paid 1500,00 with discover card and he has to pay more1861.06.all theses fees all these years and the right thing was stoped this abuse and dont collected more money from my husband or give back the money they stolen in fees from him.imagine statements from 96to 2006. in 2003 with periodic rate of 41.50.periodic charge of 13.85 and over credit limit fee of 15,00 dollars and minimium amount due is 1526,77AND 2004,2005 wasTHE SAME thing. in 2006 the citi premier card has statements like a legal credit card. i have a jc penney credit card since 1991 and i use it and my balance in 2006 is 500,00.this account and credit card of citibank expired in 1995.(i have statements here since 97 to 2006)equifax MAY26-2006.,wrote:….investigatioN;THE DISPUTE ACCOUNT CITIBANK 4128002201270209 IS CURRENTLY NOT REPORT ON THE CREDIT FILE OF MY HUSBAND.IF FEDERAL RESERVE BANK REGULATE THEse FEES OF BANKS I WAS THINK to send this coletanea of statements absurds i have here to federal reserve bank. the big fish really dont care if equifax is right and small fish is right for city bank the “PRICE IS RIGHT”.THEY REALLY DONT CARE IF EVERY MONTH MY HUSBAND HAVE A 1,00 IN HIS CHEcKING ACCOUNT and a social security check for 600,00 a month.i hope you understand my english ,thanks very much stan.
June 5th, 2006 at 9:31 pm
You need a lawyer Tania! If this has been going on since 1997 the bank definitly has to answer for this! The only way to go is to contact a Lawyer first, then talk to the Attorney General.
June 6th, 2006 at 1:15 am
Ben is correct. Definitely see a lawyer with all your papers. If they are doing any unfair treatment to you and your husband, you can sue them in the small claim court for the damage caused. And don’t pay them without knowing the consequences. One single payment restarts the SOL clock. If you would not have paid them in 2005, it could become past SOL by this time. Consult a lawyer immediately.
June 6th, 2006 at 10:13 am
my husband is paying them and they send statement every month here.is any law that forbid banks to charge many fees ,late fees,monthly fees etc…to a credit card that is not in use for years?is any law against banks that tell lies in the statements that are forgery and illegal statements. a cash advance that did not exist and is ANY law against banks abuse a person because is blind and cannot read these bills or the absurd statement they are overcharged him?is any place that i can complain against the most perjury act that is to lie ? if this country of UNITED STATES OF AMERICA IS A PLACE that loves the truth and only the truth i really wants to help my husband that dont understand he has to stop to pay this people.my husband always tell that bad people robbing all his money and they make him blind for robber him.he believe this people is so bad that his life has changed because them,he fear them like the people of ltd 77074 and he thinks bad people is waiting for him all the time to take all his money.my husband is a good man.yesterday a man falls near him and he helped the old man to stand up again.i really wants to do for my husband the same thing he did yesterday for this man.every time he falls i want to help him to stand up again.i love all of you of debt consolidation care forum because every day and night this forum has helped and continue to help many people that falls to stand up again.this forum of debt consolidation care is just doing what GOD WANTS.Helping people and care about people is a priority of debt consolidation care.
June 7th, 2006 at 2:10 pm
i just send papers to attorney general of florida(charlie crist).can i complaint to FDCI ,TOO?WHAT IS FDCI?
June 7th, 2006 at 2:11 pm
FDIC
July 9th, 2006 at 10:21 am
i received a letter yesterday from office of attorney general of Florida(charlie christ)that said:”thank you for your complaint regarding citibank to the attention of floRida attorney general of Florida charlie christ.often is only through correspondence from concerned and responsable citizens that this office became aware of widespread consumer problems.”
THE LETTER of the office of attorney of florida told me to call OCC(THE OFFICE OF COMPTROLLER of the currency)the agency that controlled all national banks.occ telephone is 1800 6136743 and website is www.occ.treas.gov/customer.htm
the letter of the attorney of florida told the same thing stan,that you and benjamin told me before:-”you may wish to consider consulting a private attorney for a determination of any legal remedies that may be available to you.”
my husband accounts is a problem that i cannot solve.these accounts are like a “hot potato”that only him wants to taste.the only help i’m give to him is “tell the world the true”,like denny says and the abusive calls have stoped and when i see anything wrong i only tell the truth in this forum and this is more important than money for me
because a blind and mentally ill person with enough problems already has peace now.sincerelly Stan,debt consolidation care is building with care for help people with compassion and dedication. when debt consolidation help people is a lesson for other businesses that really dont care about human beings..GOD BLESS THIS FORUM OF DEBT CONSOLIDATION CARE!!!THANKS STAN,THANKS FINSFAN 13.BEN,DENNY,MIKE AND EVERYbody THAT DEDICATED TO HELP PEOPLE IN THIS FORUM .
July 9th, 2006 at 10:26 am
i received the letter of attorney general office(charlie christ)thursday 6 or friday 7,2006.