- Report: #932545
Report - Rebuttal - Arbitrate
Complaint Review: Aaron's
Aaron'sColumbia, SC Columbia, South Carolina United States of America
Aaron's Charged Way Too Much Columbia, South Carolina
New Lawsuit Filed Against Aarons, Inc. for Allegedly Charging
Excessive Interest in Violation of Uniform Consumer Credit Code
Lawsuit claims that Aarons repeatedly breaches statutes in states such as Oklahoma, Indiana, South Carolina, Wyoming, and Wisconsin.
Atlanta, GA (PRWEB) August 24, 2012
The law firms Webb, Klase & Lemond, LLC and Sneed Lang Herrold, PC have filed a class action lawsuit against Aarons, Inc., one of Americas leading rent-to-own companies with over 1,900 total stores from coast-to-coast. Through
its rent-to-own programs, Aarons finances the purchase of furniture, appliances, and electronics to consumers. The new lawsuit alleges that the effective interest rate charged by Aarons exceeds that allowed by law in the several states that have adopted the 1968 version of the Uniform Consumer Credit Code, including Oklahoma, Indiana, South Carolina, Wyoming, and Wisconsin.
The new case, styled Maul v. Aarons, Inc., is pending in the United States District Court for the Western District of Oklahoma and has been assigned Case Number 5:12-cv-00924-M. According to the suit, Aarons rent-to-own business
model is in reality the extension of credit through consumer loans disguised as leases for the purchase of goods. The suit alleges that the difference between the market value of the goods and the total amount of payments made by a
consumer constitutes interest. The Uniform Consumer Credit Code, as adopted under various names in states such as Oklahoma, Indiana, South Carolina, Wyoming, and Wisconsin, caps the interest rate that can be charged in consumer
transactions. The suit alleges that the effective interest rates charged by Aarons exceed the amount allowed by law.
In addition to violations of the various state consumer credit codes, the suit also raises claims for unjust enrichment and unconscionability. The claim for unjust enrichment asserts that Aarons should be required to return to consumers any amounts of excessive interest that it has received. The claim for unconscionability raises concerns about the one-sided and unfair nature of Aarons contracts.
If you are an Aarons customer and in particular if you are an Aarons customer in Oklahoma, Indiana, South Carolina, Wyoming, or Wisconsin and wish to discuss this action or other Aarons practices, please contact Webb, Klase
& Lemond by e-mail at contact(at)WebbLLC(dot)com or by calling (770) 444-9325.
This report was posted on Ripoff Report on 08/25/2012 02:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/Aarons/Columbia-South-Carolina-/Aarons-Charged-Way-Too-Much-Columbia-South-Carolina-932545. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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