Big Picture Loans: $65 Million Settlement for High-Interest Loans
Who Qualifies for the Settlement and How Much Will They Get?
According to TheSuns, Big Picture Loans is a company that lends money to people. They give loans to people with bad credit, but they charge very high interest rates. This means that it’s hard for people to pay back their loans. The company has been accused of charging too much interest, and now they have to pay $65 million to settle the problem.
Americans who took out loans with Big Picture Loans might get some money from the settlement. The amount of money they get will depend on what they did with their loan. If they didn’t make any payments on their loan, they wouldn’t get any money. But if they made payments and paid more than what they owed, they might get some money. Some states have laws that say how much interest can be charged, and people who pay too much interest in those states might get some money back.
$65 Million Settlement: Big Picture Loans Forced to Pay for High-Interest Loans Scandal (PHOTO: GOOGLE)
Big Picture Loans Settlement: A Major Victory for Consumers
The company says it didn’t do anything wrong, but it’s still paying the $65 million to settle the problem. Some people think that the company’s high interest rates are unfair and hurtful. The settlement is good news for people who were hurt by Big Picture Loans’ practices.
