In a settlement reached, Loan Max has agreed to refund more than $206,000 to nearly 1,800 borrowers. Further, as part of the settlement agreement, the company agreed not to collect deficiency amounts owed by almost 12,000 Virginia borrowers who obtained loans and later defaulted on those loans. It will pay attorneys fees and $50,000 that the AG's office will distribute to nonprofit credit counseling agencies in Virginia. [WDBJ NEWS: LOAN MAX]
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Last updated on Jun-12-07