Va. sues online lender, alleges ‘illegal predatory loans’
Updated: May 04, 2018 10:18 PM EDT
Robert Linkonis often works with people who have fallen victim to predatory loans. He is president at Credit Restoration Associates in Chesterfield County.
“A predatory loan in many cases causes a downward spiral. Someone can’t repay it. They have to get another loan in some cases to repay it,” he said.
Linkonis said they can be stuck in a cycle of debt with high interest rates that cause the debt to only grow.