Following up on its investigation of internet lenders, Caddell & Chapman recently sued Big Picture Loans, LLC (and others) on behalf of two Georgia residents. The lawsuit alleges that Big Picture Loans’ unlicensed lending at high interest rates violated several state and federal laws. The plaintiffs request that the court declare that all Big Picture loans to Georgia residents are illegal, void, and uncollectible. If the lawsuit is successful, borrowers’ debts to Big Picture Loans may be forgiven, and Big Picture Loans and/or other defendants may have to refund all the loan payments (including both the principal and interest) that they received from Georgia residents since July 2014. The lawsuit has already received national media attention for its intended protection of consumer rights. Caddell & Chapman is pursuing the claims against Big Picture Loans with the assistance of co-counsel, McRae Bertschi & Cole, LLC of Atlanta, Georgia.
Caddell & Chapman is investigating the filing of additional lawsuits against Big Picture Loans and other unlicensed payday lenders who made high-interest loans. The law firm already represents clients across the United States who have taken out illegal and uncollectible loans from a long list of lenders of payday/installment loans. If you or someone you know would like to discuss your history of receiving payday/installment loans, please contact us.