FTC Obtains Court Order Halting Internet Payday Lenders Who Failed to Disclose Key Loan Terms and Used Abusive and Deceptive Collection Tactics

In a case filed by the Federal Trade Commission and the State of Nevada, a federal court has ordered a halt to certain practices by seven U.S.-based companies and an individual operating as part of an international Internet payday lending operation.

Lending Money to Relatives or Friends

Have you ever loaned money to relatives or friends? I have and some pay you back right away and some it is like pulling teeth and some you may never see. I know my self it does make me feel good when I can help someone out who is in a tough bind. But I also trust others that when they tell me they will pay me back that they will. It doesn’t always work out, like the old saying goes something like “A loan to a relative or friend needs to be thought of as a gift”, how true. I quess it is a bonus if you get paid back. I know if I borrow $5 from someone I can’t wait to pay them back. Here is something I read today;