LoanReverse.com is helping millions of Americans recover money from
predatory online lenders who have charged exorbitant interest rates by
facilitating the refund process for illegal debits
The secure, easy-to-use website gathers a borrower’s loan information, establishes his or her eligibility for a refund and then contacts the financial institution to facilitate the “loan reversal;” recovering interest and fees and ending the lender’s unlawful withdrawals of interest and principal from the borrower’s account.
"Short-term, high interest rate loans have become necessary for many hard-working Americans to meet even their basic needs,” commented
Carlson added that LoanReverse will essentially be obsolete after a few months. “Time is ticking for people to recover their money as the third-party clearing houses that coordinate payment transfers are going to wake up and not accept transactions from these illegal lenders that hide online in a shadowy world that cons more than
LoanReverse.com works by gathering loan information directly from the borrowers and applies its proprietary software to determine the amount each victim of an illegal payday lender is eligible to recover. The site then generates the necessary documents to streamline the complicated and bureaucratic process of reversing the fees and interest charged by these predatory lenders.
"Roughly 90 percent of online loans are illegal, with annualized interest rates ranging from 700 percent to more than 1,200 percent. The typical online borrower puts up to 36 percent of his or her gross monthly paycheck toward interest on their illegal online loans; and most of these individuals have three, four or more loans at the same time," stated Carlson. "Most users of the site will be able to recover
LoanReverse.com launched on
LoanReverse.com is the first product offering from Consumer Financial Advocates, an organization dedicated to helping hard-working Americans who have been charged illegal interest rates and fees from online predatory lenders masquerading as payday lenders. Our goal is to help as many Americans get their money back from these predatory lenders.
Consumer Financial Advocates
Source: Consumer Financial Advocates