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Stacy Kruse, another Fort Drum partner who utilized to borrow frequently from N.Y. Catalog product product Sales, includes a various view associated with certificates. “We just tossed them away,” she stated. “we looked over the catalog and it is simply junk.”

Besides, she stated: “Who on the planet would buy present certificates to purchase material to be delivered months from now, when you’re able to purchase better, cheaper material at Wal-Mart exactly the same time? Demonstrably, you choose to go here to obtain a loan.”

Eliot Spitzer, the latest York attorney general, agrees. In his office filed a lawsuit accusing N.Y september. Catalog product Sales together with guy detailed as its “principal,” an Alabama businessman called John A. Gill Jr., of creating “unlawful and misleading” loans.

Mr. Gill, in a affidavit, denied that a stake was had by him into the business

The shop’s local manager, the spouse of a soldier at Fort Drum, insisted in court filings that the shops would not make loans. The truth is pending.

About 1,200 miles south of Fort Drum, in a sequence of storefront stores nearby the Jacksonville Naval Air facility in Florida, is yet another small company set up by Mr. Continue reading “Seeking Fast Loans, Soldiers Race Towards High-Interest Traps”