PayDay type loans for injured Plaintiffs, at 100% interest!

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brian
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Joined: Tue Jul 14, 2009 10:52 am

PayDay type loans for injured Plaintiffs, at 100% interest!

Post by brian » Mon Jan 17, 2011 8:03 pm

Jan 18, 2011: New York Times Lawsuit Loans Add New Risk for the Injured
You have got to be kidding??!!
  • The business of lending to plaintiffs arose over the last decade, part of a trend in which banks, hedge funds and private investors are putting money into other people’s lawsuits. But the industry, which now lends plaintiffs more than $100 million a year, remains unregulated in most states, free to ignore laws that protect people who borrow from most other kinds of lenders.
    Unrestrained by laws that cap interest rates, the rates charged by lawsuit lenders often exceed 100 percent a year, according to a review by The New York Times and the Center for Public Integrity. Furthermore, companies are not required to provide clear and complete pricing information — and the details they do give are often misleading.
See the full article: Lawsuit Loans Add New Risk for the Injured
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