Payday loan providers settle SC course action lawsuit

Payday loan providers settle SC course action lawsuit

Friday

A $2.5 million settlement happens to be reached within the 2007 course action lawsuit brought by sc borrowers contrary to the state’s payday financing industry.

A $2.5 million settlement is reached within the 2007 course action lawsuit brought by sc borrowers from the state’s payday financing industry.

The sweeping contract could produce tiny settlement claims — about $100 — for anybody whom took down a short-term, high-interest pay day loan with such loan providers as Spartanburg-based Advance America, Check Into Cash of sc and much more than a dozen other people between 2004 and 2009.

Richland County Circuit Judge Casey Manning first must accept the regards to the settlement. A fairness hearing on that matter is planned for Sept. 15. The payday financing industry keeps this has maybe maybe not broken any laws and regulations, while the lawsuits allege.

Payday financing clients into the affected period of time who would like to engage in the settlement have until Sept. 1 to register a one-page claim application, offered at scpaydayclaimsettlement.net. Continue reading “Payday loan providers settle SC course action lawsuit”

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