26 Jan Aycox’s enterprises conduct business lower than multiple brands, plus LoanMax, LoanStar Term Financing, and you may Midwest Identity Financing
And post legislation getting connected agencies in this in public areas available MSLP assistance, MSLP loan documents require also for every single debtor to mind-certify you to none of your own their affiliates enjoys reached another type of MSLP business relative to MSLP regulations towards affiliated organizations. Just like the the firms express a manager and are generally based inside the a comparable package about secure office building, it appears very unrealistic you to definitely Meadowwood loan candidates were unaware of the borrowed funds one to Wellshire acquired simply days prior to.
This new Aycox Name Mortgage Kingdom
Aycox, a former car salesmen and you will were not successful insurance policies salesman, has established up a concept loan empire, producing massive amounts into the yearly cash courtesy identity debt collectors found around the nation.
Aycox's lending enterprises has actually confronted numerous lawsuits and you will regulators fees and penalties, and a federal category action suit alleging the businesses “[victimize] users by the collecting unlawful expenses and you can large interest rates,” into the pass off Georgia rules. Some other suit by the DC lawyer standard accused an enthusiastic Aycox organization off asking their customers interest levels of greater than three hundred per cent, that your company sooner paid thanks to refunds so you're able to customers.