-- The BLC Law Center and Ahren Tiller are pleased to announce that they have initiated a class action lawsuit on behalf of plaintiff Cindy Delisle. Other legal counsel on the action includes Joshua Swigart of Hyde & Swigart and Abbas Kazerounian of Kazerouni Law Group APC. The lawsuit calls into question the practice of Speedy Cash of providing loans to customers at extremely high, even injurious interest rates. Delisle says she was charged an unlawfully high-interest rate, and was not given time to review and understand the charges before the transaction was completed.
Delisle states her installment loan and promissory note with the company was taken out on July 14, 2018. The amount she borrowed was $4457.38; the terms of the loan require her to pay back a minimum of $15.097.63. She says she was not able to accurately review the terms so did not know she would be required to pay that amount. The plaintiff made a payment to Speedy Cash on Aug. 17, 2018, thereby incurring financial injury from her involvement with the company.
The Speedy Cash Loan class action lawsuit claims that borrowers are not permitted to negotiate the terms and are only shown the terms briefly. Further, the plaintiff argues that California's Unfair Competition Law is violated since interest rates are well above the legally allowed rate. According to the plaintiff, the loan practices of the firm are unfair, fraudulent, unlawful and or pernicious.
The Speedy Cash high-interest rates class-action lawsuit argues that the defendant intentionally deceives consumers as to the terms of the loan by not permitting them with enough time to review the loan terms, and by making the terms of the loan so confusing that reasonable borrowers would not be able to understand them. Additionally, the suit claims that Speedy Cash knew or should have known of the legal restrictions on interest rates, and knowingly violated the law.
More information can be seen at https://topclassactions.com/lawsuit-settlements/lawsuit-news/857302-speedy-cash-class-action-challenges-extreme-loan-interest-rates/.
Contact Info:
Name: Ahren Tiller
Email: Send Email
Organization: BLC Law Center
Website: https://topclassactions.com/lawsuit-settlements/lawsuit-news/857302-speedy-cash-class-action-challenges-extreme-loan-interest-rates/
Release ID: 465738
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