Settlement Reached With Fast Payday Loans In Scam
Settlement Reached With Fast Payday Loans In Scam
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TALLAHASSEE - Florida consumers will receive $5.6 million from a settlement with Fast Payday Loans, formerly known as Florida Auto Loans, relating to allegations that the company forced borrowers to buy travel club memberships in order to obtain title loans, as the result of a agreement reached by Florida Attorney General’s office. The company agreed to pay up that amount in restitution and debt forgiveness, stemming from activities that claimed 37,000 victims in Florida.
With 43 retail outlets across the state, Florida Auto Loans sold travel club memberships offered by Nation Safe Drivers, Inc., to more than 37,000 consumers between January 2001 and May 2004. In many cases, Florida Auto Loans forced customers to add $200 to $900 travel club memberships to the price of a title loan. Victims are receiving a mailer from Direct Mail Express, a company hired to contact the 37,000 victims in this case.
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TALLAHASSEE - Florida consumers will receive $5.6 million from a settlement with Fast Payday Loans, formerly known as Florida Auto Loans, relating to allegations that the company forced borrowers to buy travel club memberships in order to obtain title loans, as the result of a agreement reached by Florida Attorney General’s office. The company agreed to pay up that amount in restitution and debt forgiveness, stemming from activities that claimed 37,000 victims in Florida.
With 43 retail outlets across the state, Florida Auto Loans sold travel club memberships offered by Nation Safe Drivers, Inc., to more than 37,000 consumers between January 2001 and May 2004. In many cases, Florida Auto Loans forced customers to add $200 to $900 travel club memberships to the price of a title loan. Victims are receiving a mailer from Direct Mail Express, a company hired to contact the 37,000 victims in this case.
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