Respectable Vehicle Title Loan Companies Versus Deceitful Ones

There's a staff sergeant in Fort Benning out for justice against an fraudulent auto title loan company called Community Loans of America, that's doing work in lots of states around America, in an deceitful and illegal capacity.

Mesa, AZ (prHWY.com) November 25, 2011 - This title loan company, which offers cash for car title loans to folks in need of money fast, has been charging more than one hundred percent interest on a 3,000 dollar title loan, a complete crime. They have done this to military women and men, in direct contrast to the Military Lending Act.

This court action has been recorded by a man named Jason Cox, a staff sergeant in the navy, who wants the litigation against the specific car title loan company, to be a class action lawsuit. This could end in settlement for thousands of military people who've had to use vehicle title loans. The lawyer retained in this case is attempting to get punitive damages.

In this particular circumstance, a suit was submitted on Veterans day against this vehicle title loan provider. They say that the car title loan company seized his automobile over the summer just a few days after this active military duty personnel could not pay for a payment. He had already been billed interest close to 100 and fifty percent, that is beyond the legal limit (three times) arranged by the Military lending act. Not only is this auto title loan provider violating the military lending act, but also the Racketeer Influenced and Corrupt Organizations Act.

The lawyers for the plantiff want the vehicle title loan company to quit supplying car title loans to military personnel where they don't meet the criteria within the MLA. They're also seeking punitive damages for the individual whose car was repossessed.

While of course auto title loan lenders have a right to operate, and obtaining cash for car title loans is a necessity oftentimes, you need to police organizations who may have grown cocky and think they're above the legal system, or that by some means they will "get away with it". Why this is the case is not known. Why some vehicle title loan providers can behave morally and genuinely and others can't or won't is unknown.

What we can say for sure is naturally we stand by our military staff and people should be able to get a auto title loan should they need fast access to cash. We should make sure auto title loan lenders are fair and are held to the law.

For more information about car title loans, visit http://www.squidoo.com/arizona-auto-title-loans

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Categories: Finance

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