Making It Right for Victims of Predatory Lending
Barnes Law Group possesses particular expertise in the area of consumer fraud. It’s the core of our practice, and our lawyers have reached multi-million dollar verdicts and settlements in cases involving corporate dishonesty, predatory lending, and accounting fraud. The firm continues its mission to prosecute cases involving unscrupulous, fraudulent, and predatory consumer practices, especially those targeting the elderly, poor, and minorities as victims.
BLG has resolved and is currently handling several cases involving illegal loans that impose excessive and usurious interest rates. Generally, a “payday loan” transaction involves an advance to a borrower of $500 or less which is due to be repaid within a short period of time, usually two weeks. The borrower is required to write the lender a check in the amount of the advance, plus an additional fee imposed by the lender for making the loan. The check is held by the lender until the borrower’s next payday. The most recent case settled for $4 million.
Payday Lending Cases:
Evans/Reid v. USA Payday Stores
King/Strong v. Advance America