QC Holdings Inc. Renewed Loans and Excessive Interest

November 13 2006

A class action lawsuit has been filed against the company for allegedly violating Missouri laws by renewing payday loans an excessive number of times and charging exorbitant interest rates. The lawsuit was filed in Circuit Court of St. Louis County and claims QC Holdings did business with Quik Cash who renewed loans up to six times at a 469% interest rate. QC Holding allegedly violated Missouri payday laws and the state's Merchandising Practices Act.

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