The high-interest loans carried rates as high as 183 percent,
These men and women served [our country], and they deserve better than to have their life savings drained by an illegal, but cleverly disguised, predatory loan.
- North Carolina
- New York
- West Virginia
- South Carolina
As a reminder, Purchaser understood and acknowledged that there were multiple risks associated with the purchase of the Purchased Asset. These risks included, FIP being unable to continue collections, breach, bankruptcy, obligator failure, prohibition of law, characterization of sale transactions as loans. There was no guarantee Purchaser would receive all payments,” Kohn said.