As of September 2016, more than 75 percent of Americans lived paycheck to paycheck. Many turn to online lending to cover unexpected costs. Pew Charitable Trusts found that online payday loans are “designed to promote renewals and long-term indebtedness,” and that these loans often “result in unauthorized withdrawals, disclosure of personal information, and threats against borrowers.”
More than 30 percent of online payday borrowers report being threatened by lenders or debt collectors. Cases typically involve fee shifting statutes that allow attorneys to help debt-trapped consumers break the damaging cycle of high-cost online loans and overdraft, while providing compensation for the attorney’s time.
What You Will Learn
- How to identify players and causes of action
- How to navigate cases that have state law lending claims and federal claims, such as FCRA, FDCPA, and RICO
- What to expect when you file a case and how to gain leverage through discovery
Andrew Guzzo’s practice focuses exclusively on representing consumers, with an emphasis on litigation against internet lenders, credit reporting agencies, and debt collectors. Andrew has litigated more than a dozen cases related to Internet lending. These cases have involved each of the major players in the industry, including lenders, investors, architects of the rent-a-tribe scheme, tribal officials, specialized credit reporting agencies, and lead generators. His peers have recognized him as a Rising Star for the past three years and he serves as the state chair for Hawaii for the National Association of Consumer Advocates.