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FastBucks files for bankruptcy
Updated: Tuesday, 29 Jan 2013, 1:56 PM MST
Published : Tuesday, 29 Jan 2013, 1:56 PM MST
- Elizabeth Alvarez
ALBUQUERQUE (KRQE) - FastBucks has filed for bankruptcy after a judge ordered the loan company to make payments on $20 million in restitution to New Mexico borrowers.
Attorney General Gary King says they are trying to get out of paying consumers.
FastBucks was also ordered to stop offering high-interest loans in New Mexico, but is said to still be offering them at rates just under 400 percent.
New Mexico’s attorney general has filed a motion to have the company held in contempt.
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