What Is the King of Kash Lawsuit?
King of Kash is a Missouri-based consumer lender that offers high-cost, short-term loans. In 2015, the company was sued by a borrower named Tiffany Hunter, who alleged that King of Kash had violated numerous Missouri contract and consumer protection laws.
Specifically, Hunter alleged that King of Kash had:
- Charged excessive interest rates and fees
- Engaged in deceptive and misleading marketing practices
- Used unfair and unlawful collection tactics
Hunter’s lawsuit was certified as a class action, meaning that it could represent all King of Kash borrowers who had been similarly harmed.
In 2020, the Missouri Supreme Court ruled in favor of Hunter, finding that King of Kash had violated the state’s consumer protection laws. The court also found that King of Kash’s arbitration clause was unenforceable because it was designed to deprive borrowers of their right to a fair hearing.
The Missouri Supreme Court’s decision was a major victory for consumers. It sent a clear message to predatory lenders that they cannot engage in illegal and unethical practices without consequences.
FAQs:
Q: What is the status of the King of Kash lawsuit?
A: The King of Kash lawsuit is currently in the damages phase. The parties are currently engaged in discovery and expert exchanges.
Q: Who is eligible to join the class action lawsuit?
A: The class action lawsuit is open to all King of Kash borrowers who borrowed money from the company on or after January 1, 2010.
Q: What damages are available to class members?
A: Class members may be entitled to recover damages for the following:
- Excessive interest rates and fees
- Deceptive and misleading marketing practices
- Unfair and unlawful collection tactics
Q: How do I join the class action lawsuit?
A: To join the class action lawsuit, you must file a claim form with the court. Claim forms can be found on the website of the plaintiffs’ attorneys.
Q: What are the deadlines for filing a claim?
A: The deadline for filing a claim is March 31, 2024.
Q: Can I file a lawsuit against King of Kash on my own?
A: Yes, you can file a lawsuit against King of Kash on your own. However, it is important to note that filing a lawsuit can be complex and time-consuming. It is generally advisable to consult with an attorney before filing a lawsuit.
Conclusion:
The King of Kash lawsuit is an important case for consumers. The Missouri Supreme Court’s decision in favor of the borrowers sends a clear message to predatory lenders that they cannot engage in illegal and unethical practices without consequences.
If you are a King of Kash borrower who has been harmed by the company’s practices, you may be eligible to join the class action lawsuit. To learn more, please visit the website of the plaintiffs’ attorneys.
References:
- Missouri Supreme Court Unanimously Refuses to Rewrite Arbitration Clause Selecting Corrupt Arbitrator: https://www.publicjustice.net/missouri-supreme-court-unanimously-refuses-to-rewrite-arbitration-clause-selecting-corrupt-arbitrator/
- Mo. top court: Consumer lender can’t rewrite arbitration clause to avoid class action: https://www.reuters.com/article/us-otc-arbitration-idUSKCN1MS2ZQ
- King of Kash Reviews | Read Customer Service Reviews of kingofkash.com – Trustpilot: https://www.trustpilot.com/review/kingofkash.com
How can I get in on this class action lawsuit for King of Kash? They took money from my account without my authorization. $330 on 2/23/24 and $330 on 2/26/24. And this is after taking $63.37 on 2/1/21 and $63.37 on 2/16/24. The payments were supposed to be $63.37 as part of a payment arrangement on a settlement in which I’ve received no contract or agreement on after asking for one. The payments were to begin on January 16, 2024. And the 1st of the month and the 16th of the month through the end of March. On January 12, 2024, I received a call from my my bank’s fraud department regarding a transaction that looked suspicious to them. It was from King of Kash for $330.00. I told the bank that I was supposed to make a payment to King of Kash, but not for $330.00. So I told the bank not to pay it. The very same day, I called King of Kash and explained what happened. They put me on hold for a while. Then came back said that wasn’t supposed to happen. Fast forward to yesterday, February 26, 2024, when I called regarding the two transactions for $330, they told me I failed my payment on January 16, 2024, so the system automatically resets the original loan amount and takes however much it needs to get to get payments caught up. I’ve never heard of such a thing. I don’t believe they ever attempted to collect the $63.37 on January 16. I did not authorize this. Then when I asked about getting a copy of the payment arrangement I was told they don’t put anything into writing. So they basically told me my payment failed on January 16, however, never contacted me or emailed regarding this. They also said they send out no notifications on failed payments. Due to all these payments, my account is now in the negative over $1000.00. In short, I was told basically that they can take money anytime they want to.