State Shuts Down Collection Agency; Warns Other Loan Companies on Payday Advances

State Shuts Down Collection Agency; Warns Other Loan Companies on Payday Advances

Patrick Lunsford

The Massachusetts workplace of Consumer Affairs and Business Regulation as well as the Division of Banks this week announced a few cease requests focusing on unlicensed loan providers and an authorized financial obligation collector that are not sticking with the state’s loan customer defenses.

The Division of Banks ordered Nevada-based Delbert Services Corporation, a debt that is licensed, as well as its owner, John P. Reddam, to instantly cease gathering re re payments on over 100 unlawful loans meant to Massachusetts customers. The Division additionally issued requests to five unlicensed, Internet-based lenders who offered loans to Massachusetts customers.

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