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Cash America International, Inc., one of the largest payday lenders in the country, to pay $19 Million..

The company agreed to reimburse up to $14 million related to debt collection lawsuits and $5 million penalty for the violations and other misconduct.

November 20, 2013 the Consumer Financial Protection Bureau announced an enforcement action against payday lender Cash America International, Inc., one of the largest short-term, small-dollar lenders in the country. The company has agreed to reimburse up to $14 million to approximately 14,000 people for robo-signing practices related to debt collection lawsuits. The company will also pay a $5 million penalty for the violations and other misconduct.

Problem with a payday loan? Submit a complaint online or by calling (855) 411-2372.

Did you borrow any payday loans in 2008 to 2012?  If so you may be eligible for a full refund if you paid money because of a collections lawsuit from January 1, 2008 through October 1, 2012 to any of the following companies:

Ohio Neighborhood Finance, Inc., d/b/a Cashland
Cash America Pawn, Inc. of Ohio
Cashland Financial Services, Inc.
Cash America Net of Ohio, LLC
Ohio Neighborhood Credit Solutions, Inc.
CNU of Ohio, LLC.

If you have not already received your refund from the payday loan lender, or think you received the wrong amount of refund, please contact the company administering the refund no later than May 19, 2014. You can call them at (877) 524-8480 or find more information on their website: www.voluntaryloanrefundprogram.com.

On their face payday loans and title loans are a quick fix.  The problem is that once you take out one of the short term, high interest loans you will be paying on it for years.  The average interest rate is 300% to 800%.  One or two small loans will balloon to thousands of dollars and the probability of losing your vehicle (if you used a title loan).

Do some research about these loans and the vermin who make the loans.

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Diane L. Drain

Attorney, consumer advocate and retired law professor

About Diane Drain:

Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about Arizona bankruptcy and foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.

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*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice nor create an attorney client relationship between you, me, or the author of any article. Any information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*

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