I have good news and bad new to report in my new ongoing series regarding unlawful Title Loans. The good news is that we were able to help a victim recently and obtained a significant recovery for her and did so very quickly. She was more than grateful.
Her story was much like many others. Single mother. Down on her luck. She needed money desperately and she entered into a Title Loan with a Title Loan company located in Delaware.
The loan was usurious and illegal. The stated Annual Percentage Rate (APR) was in excess of 200%. Once you added up all of the charges and fees, the APR exceeded 300%. Even after she paid way more than the law required, the Title Loan company repossessed her vehicle.
But as I as above, we were able to help and to get her some semblance of justice.
Now the bad news. As I was researching another Title Loan case, I came across several Website forums where victims were telling their own stories of being ripped off and abused.
There are many, many other victims who are not being helped.
I don't think they know that something can be done.
I don't think they know that there are lawyers that can help.
I don't think they know that there are lawyers, like me, that will help on a contingency fee basis. That means that the lawyers covers all of the costs and expenses up-front and only gets paid when the case is resolved.
If you or someone you know has been victimized by a Title Loan, you or they must contact a qualified attorney right away.