The (Western) Sky is Falling! Good News Story..
In the ongoing fight against rogue payday lending, the good guys and girls won one recently. The North Carolina Business Court has prevented nationally known online payday lender Western Sky Financial LLC and several affiliated entities from doing business in North Carolina. This victory is part of an ongoing legal battle being waged by the North Carolina Attorney General’s office to protect North Carolina consumers from illegal and unfair business practices utilized by Western Sky Financial, CashCall Inc. WS Funding Inc., Delbert Services Corp. and CashCall founder John Paul Reddam. Judge Gregory McGuire’s order dismisses Reddam from the lawsuit but keeps the other defendants in the litigation and fleshes out several issues pertinent to the ongoing litigation. The case appears to be far from over but the rulings by Judge McGuire at this point of the case tend to favor the consumer and could help create an environment for a favorable pre-trial settlement.
Bottom line for you is that if you had or are having problems with a payday lender you should seek legal counsel. Too often these companies cross the legal line in several areas: disclosures made, interest rates charged, methods of collection, etc. Do not be another victim.