Unregulated HFC loan one step removed from payday loans

CJ in Ohio said: “I got a personal loan from HFC and the balance never goes down and they add late fee and the interest rate is $300.00, so is there something that can be done? I need your help.”

Editor’s Note: You have a loan from an unregulated entity of a Federally regulated entity. Your loan adds interest at a daily rate. Hopefully proposed regulatory oversight and new banking laws will regulate these lenders. For now borrowers must understand they are only one step removed from payday lenders and pawn-your-title lenders. Good luck.