He says he feels guilty that he wasnt able to pay back the loans. These people did give me money. It aint their fault I couldnt manage it, he said. But he says the same thing that happened to him could happen to anyone. The payments are so high [for these types of loans], theres no way anyone could honestly pay them. And anybody that dont make pre qualification for personal loan whole lot of money, its gonna do them the same way.
So they really shouldnt even be offered. If you have a personal story about borrowing money online, The Huffington Post wants to hear from you.
He hopes businesses in this area reform their practices. Milking the Cash Cow or customers. In the 16-page, class-action, lawsuit against Cash Cow, Feferman cites a number of alleged wrong-doings that he said violates both the Truth in Lending Act and the New Mexico Unfair Practices Act, including misstating the nature of the loan, the interest rate of the loan, the schedule of payments, and the security interest.
Caroline Tullie of Ganado, Ariz.is the plaintiff in the complaint filed in U. District Court May 23, 2014, which states: Cash Cow told Ms.
Privacy Is Our Policy. Our company is committed to protecting your pre qualification for personal loan. We use a 128-bit SSL encryption so the information you share on your request is protected. We treat your information like our own.
Everyone wants to keep their information safe and secure, which is why we use the same security protocol to protect your information and our information. REPRESENTATIVE EXAMPLE. If you borrowed 2,000 over a 12 month period and the loan had a 3 arrangement fee (60), your monthly repayments would be 189.
12, with a total payback amount of 2,269. 44 which including the 3 fee paid from the loan amount, would have a total cost of 329.