During the FTC’s Request, Court Halts Number Of Allegedly Fake Payday Debts

During the FTC’s Request, Court Halts Number Of Allegedly Fake Payday Debts Defendants’ Robocalls and Collectors Threatened Legal Action and Arrest, FTC Alleges A U.S. district court has halted an operation based in Atlanta and Cleveland that allegedly used deceptive and threatening tactics to collect phantom payday loan “debts” that consumers either did not owe,…

Customers should avoid loans that are payday. Neon signs illuminate a cash advance company.

Customers should avoid loans that are payday. Neon signs illuminate a cash advance company. cash advance borrowers frequently roll over their loans and crank up paying more in fees than they borrowed, the customer Financial Protection Bureau warns in a study out Tuesday. (Picture: Ross D. Franklin AP) Borrowers of high-interest pay day loans frequently…