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.