My Single Mom Life

Did you ever use Check N' Go of Florida, to get a payday advance loan before September 30, 2001?
If you did, you should have gotten a notice by mail, notifying you of the class action lawsuit.
The plaintiffs are suing because the interest on the loan exceeded the maximum amount allowed under Florida law.
The Net Settlement Fund will be calculated for distribution on a pro rata basis to all Class Members who submit a Valid Claim Form. The maximum amount an individual Class Member can receive under the Settlement is the total fees paid plus 10%. If there is insufficient money in the Net Settlement Fund to pay every Class Member who submitted a Valid Claim Form 110% , the pro rata share will be between 19% and 110% of the total amount of fees paid.

Back in late 1999 and 2000, I was working and had taken out a payday loan. It is a vicious cycle, I would never tell anyone to do a payday loan without thoroughly researching the company you get it through.
Some of them have fees which are so high, it keeps you in the cycle of constantly paying back the loan, and taking it back out again, and again, and again.

So I had taken out payday loans from 3/10/2000 to 11/6/2000. The fees started out at $16.00, and by November 6th 2000, the fees had increased to $32.50.
From March to November, I paid $530.00 in fees that exceeded the maximum allowed by Florida law, making me part of the class.
So I may get all my fees back plus 10%, or somewhere between 19% and 110% of my actual fees, when it settles.
Cool.
I knew they were screwing me, but I was trapped in the never ending cycle.