Pay day loan customers get some money back -, South Georgia News, Weather, Sports

Pay day loan customers get some money back

June 20, 2005

Albany- First American Cash Advance was raided and shut down in December, accused of illegally charging up to 600 percent interest on short-term loans.

It turns out, the company took advantage of a loophole in the law that made the loans legal. First American did settle a civil lawsuit for $15,000. Now, that money is being given back to its customers.

"There are approximately 200 victims and what we did is divided the 15,000 by 200 and we've got a check for all those people for $60, and we will be disbursing these checks," says Hodges.

Ken Hodges says there are about 50 people entitled to money who have not yet been identified. If you think you are a victim and were a First American Cash Advance customer before December, contact the Dougherty County district attorney's office.


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