CNG Financial & Check ’n Go Class Action or Arbitration over Xact loans
We are investigating potential class actions or arbitrations against CNG Financial and/or Check ’n Go over the Xact loan product.
Persons who took out certain loans from CNG or Check ’n Go may not owe any money on their loans. They may even get money back.
Various states’ laws establish interest rate caps on loans issued by lenders. But it’s believed that CNG or Check ’n Go’s Xact loans often exceed those caps in certain states.
Those loans are purported to be issued by a bank. But it’s believed that a court or arbitrator may conclude that (1) the true lender on those loans is CNG or Check ’n Go and (2) the state law of the borrower’s residence applies to those loans. If that happens, the loans may be at least partly unenforceable in certain states.
If you are interested in trying to invalidate your loans obtained through CNG or Check ’n Go and not making any more payments (and potentially getting money back), please complete this form.
State Law Background
Various states have laws that cap maximum interest rate on loans. For example, one California law (California Financial Code § 22304.5) caps the maximum interest rate on certain loans by certain lenders at 36% plus the federal funds rate.
This is just an example. Other California usury laws apply to different loans.
And other states have different or similar interest rate caps. Those states may include Delaware, District of Columbia, Florida, Illinois, Indiana, Kansas, Kentucky, Michigan, Mississippi, Oklahoma, Ohio, Oregon, South Dakota, Tennessee, Texas, and Washington.
Suing CNG or Check ’n Go
Maybe you’re here because you just want to get out of your loan. Or you may want to sue CNG or Check ’n Go.
We may be able to help you with that.
Fill out the form, and we’ll get back to you.