Thousands of customers of Check 'n Go, a payday and installment loan lender, are reminded they could be eligible for refunds, according to a $4.3 million settlement with the San Francisco City Attorney's office.
Under terms of the settlement, more than 12,800 Californians who took out Check 'n Go installment loans of $1,500 or less between November 2006 and June 2008 could be eligible for refunds of interest, fees and finance charges, ranging anywhere from $20 to $4,675.
The deadline to apply is March 28.
Check 'n Go, which has more than 12 outlets in the greater Sacramento region, was accused of charging exorbitant interest rates - as much as 400 percent when annualized - on online, short-term installment loans of $1,500 or less.
The loans were taken out on three Check 'n Go websites: checkngo.com, ilp.fbdel.com and commandloans.com.
"The strongest statement we can make against predatory lending in California is to maximize restitution for every borrower who deserves it," said San Francisco City Attorney Dennis Herrera in a prepared statement.
Under a similar settlement by Herrera's office last year, Money Mart and Loan Mart are currently issuing refunds averaging $700 to some 8,100 consumers.
To be eligible for repayments, Check 'n Go borrowers must submit a claim form postmarked by next Thursday.