State Shuts Down Collection Agency; Warns Other Loan Companies on Payday Advances
Patrick Lunsford
The payday loans Illinois Massachusetts workplace of customer Affairs and Business Regulation and also the Division of Banking institutions this week announced a few cease sales focusing on unlicensed loan providers and an authorized financial obligation collector that weren’t sticking with the state’s loan customer defenses.
The Division of Banks ordered Nevada-based Delbert Services Corporation, an authorized financial obligation collector, as well as its owner, John P. Reddam, to straight away stop gathering re re payments on over 100 unlawful loans designed to Massachusetts customers. The Division additionally issued instructions to five unlicensed, Internet-based lenders who offered loans to Massachusetts customers. (more…)