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National Payday Corporate Office

National Payday is one of the oldest lenders in the payday loan business with over thirteen years in business.

National Payday allows first-time customers to borrow up to $400. Once they have successfully paid this loan back they are eligible for up to $1,000 for their subsequent loans.

National Payday is one of the most expensive of the payday loan lenders, with 651.79% APR for a 14-day loan. The company’s fixed rate is $25 per $100 borrowed.

The Better Business Bureau rates National Payday with an F, the worst possible rating. This is because there are six complaints filed against the business, the company failed to respond to the complaints, and the BBB was unable to locate the business to process the complaints.

National Payday appears to have a secure site, has a good FAQ section on their website, and appears to use encryption to safeguard customers’ data.

National Payday

National Payday is one of the oldest lenders in the payday loan business with over thirteen years in business.

National Payday allows first-time customers to borrow up to $400. Once they have successfully paid this loan back they are eligible for up to $1,000 for their subsequent loans.

National Payday is one of the most expensive of the payday loan lenders, with 651.79% APR for a 14-day loan. The company’s fixed rate is $25 per $100 borrowed.

History

The Better Business Bureau rates National Payday with an F, the worst possible rating. This is because there are six complaints filed against the business, the company failed to respond to the complaints, and the BBB was unable to locate the business to process the complaints.

National Payday appears to have a secure site, has a good FAQ section on their website, and appears to use encryption to safeguard customers’ data.

Green Trust Cash Corporate Office

Green Trust Cash is a Native American owned business which operates within the boundaries of the Fort Belknap reservation in Montana.

Green Trust Cash is a new company but already has many complaints with the Better Business Bureau and on other sites complaining of misleading terms, high interest rates, and dishonesty about rates, automatic deductions, paperwork, and loan terms.

There have been many reports of unauthorized deductions from borrower’s checking accounts.  It is standard practice for the company to deduct $60 per week as an interest payment. This does not count towards the principal of the loan. Consumers have reported that this weekly payment will be deducted indefinitely no matter the amount of the original payday loan. Consumers report that a borrower must call to begin paying off the principal.

Green Trust Cash specializes in small loans – under $800.

 

Green Trust Cash

Green Trust Cash is a Native American owned business which operates within the boundaries of the Fort Belknap reservation in Montana.

Green Trust Cash is a new company but already has many complaints with the Better Business Bureau and on other sites complaining of misleading terms, high interest rates, and dishonesty about rates, automatic deductions, paperwork, and loan terms.

There have been many reports of unauthorized deductions from borrower’s checking accounts.  It is standard practice for the company to deduct $60 per week as an interest payment. This does not count towards the principal of the loan. Consumers have reported that this weekly payment will be deducted indefinitely no matter the amount of the original payday loan. Consumers report that a borrower must call to begin paying off the principal.

History

Green Trust Cash specializes in small loans – under $800.

 

EZCORP, Inc. Corporate Office

EZCORP was founded in 1974 by Courtland L. Logue, Jr. when he opened his first pawn store in Austin, Texas.

Logue tried to change the stereotype of pawnshops and located his in middle-income neighborhoods.

In 1989 Morgan Schiff & Co. invested in the company, running it with Logue as the CEO. Two years later Morgan Schiff had become the majority owner and decided to take the company public.

By 1996 EZCORP operated 245 stores in 11 states, including Texas, Colorado, Indiana, Mississippi, Georgia, Oklahoma, Tennessee, Louisiana, Arkansas, and Florida.

In the 1990’s EZCORP launched www.ezpawn.com, an e-commerce site with 400,000 items for sale.

The company’s pawnshops also make pawn loans, which are typically small loans backed up by property, such as jewelry, electronics, musical instruments, sporting goods, or tools. The majority of these loans have 20% monthly interest, or 240% annual interest.

Today EZCORP has 1,342 locations, consisting of 495 U.S. pawn stores, 7 U.S. buy/sell stores and financial stores, 489 U.S. financial service stores, 239 pawn stores in Mexico, 30 buy/sell and financial service stores in Canada, 19 buy/sell stores in Mexico, and 54 financial services branches in Mexico.

EZCORP operates stores under the names EZPawn and EZMoney. The company has 7,500 employees and had $1.01 billion in revenue in 2013.

EZCORP

EZCORP was founded in 1974 by Courtland L. Logue, Jr. when he opened his first pawn store in Austin, Texas.

Logue tried to change the stereotype of pawnshops and located his in middle-income neighborhoods.

In 1989 Morgan Schiff & Co. invested in the company, running it with Logue as the CEO. Two years later Morgan Schiff had become the majority owner and decided to take the company public.

History

By 1996 EZCORP operated 245 stores in 11 states, including Texas, Colorado, Indiana, Mississippi, Georgia, Oklahoma, Tennessee, Louisiana, Arkansas, and Florida.

In the 1990’s EZCORP launched www.ezpawn.com, an e-commerce site with 400,000 items for sale.

The company’s pawnshops also make pawn loans, which are typically small loans backed up by property, such as jewelry, electronics, musical instruments, sporting goods, or tools. The majority of these loans have 20% monthly interest, or 240% annual interest.

Today EZCORP has 1,342 locations, consisting of 495 U.S. pawn stores, 7 U.S. buy/sell stores and financial stores, 489 U.S. financial service stores, 239 pawn stores in Mexico, 30 buy/sell and financial service stores in Canada, 19 buy/sell stores in Mexico, and 54 financial services branches in Mexico.

EZCORP operates stores under the names EZPawn and EZMoney. The company has 7,500 employees and had $1.01 billion in revenue in 2013.

Arrowhead Investment Corporate Office

Arrowhead Investment is a payday loan company with headquarters in Salt Lake City, Utah.

The company is the target of many claims on scam-reporting websites.

Consumers have been charged many times the amount of money borrowed with reportedly more than 1,000% interest rates in many cases. There are many reports of a consumer taking out a small loan of $200 or $300 and being charged $90 every two weeks for years.

In 2010 Arrowhead Investment was sued and the company agreed to a settlement of $100,000 in restitution and forgiving an additional $432,000 in outstanding loans. The lawsuit stated that Arrowhead had reasonable loan agreements and violated state consumer law.

Arrowhead Investment, Inc.

Arrowhead Investment is a payday loan company with headquarters in Salt Lake City, Utah.

The company is the target of many claims on scam-reporting websites.

Consumers have been charged many times the amount of money borrowed with reportedly more than 1,000% interest rates in many cases. There are many reports of a consumer taking out a small loan of $200 or $300 and being charged $90 every two weeks for years.

History

In 2010 Arrowhead Investment was sued and the company agreed to a settlement of $100,000 in restitution and forgiving an additional $432,000 in outstanding loans. The lawsuit stated that Arrowhead had reasonable loan agreements and violated state consumer law.

Western Sky Financial Corporate Office

Western Sky Financial, LLC was a company with ties to South Dakota’s Cheyenne River Sioux tribe that was an online lender of payday loans.

The company became infamous for its sky-high rates. Reading the fine print, a consumer would see that a $10,000 loan would have an interest rate of 89.68% with 84 monthly payments of $743.99, meaning that the borrower would pay back $62,495.16 on a $10,000 loan.

Western Sky claimed that it was exempt from state and federal laws as a sovereign nation, and was only subject to tribal law. This was used as a defense in the company’s lending of loans in states where payday loans are illegal: Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, and West Virginia.

This last was what ultimately caused the company’s downfall when New York, Oregon, Colorado, Minnesota, and Maryland sued the company for its illegally high interest rates.

Western Sky stopped funding new loans on September 3, 2013. The company’s website, email, and contact information are no longer valid.

 

Western Sky Financial

Western Sky Financial, LLC was a company with ties to South Dakota’s Cheyenne River Sioux tribe that was an online lender of payday loans.

The company became infamous for its sky-high rates. Reading the fine print, a consumer would see that a $10,000 loan would have an interest rate of 89.68% with 84 monthly payments of $743.99, meaning that the borrower would pay back $62,495.16 on a $10,000 loan.

Western Sky claimed that it was exempt from state and federal laws as a sovereign nation, and was only subject to tribal law. This was used as a defense in the company’s lending of loans in states where payday loans are illegal: Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, and West Virginia.

History

This last was what ultimately caused the company’s downfall when New York, Oregon, Colorado, Minnesota, and Maryland sued the company for its illegally high interest rates.

Western Sky stopped funding new loans on September 3, 2013. The company’s website, email, and contact information are no longer valid.