Almost a year to the day after its settled one of two class action claims brought against it by Queensland borrowers, payday lender Cash Converters has settled the second claim.The company announced yesterday that it has agreed to pay A$42.5 million into a fund for distribution to members of the class led by litigant Sean Lynch.Class members were borrowers in Queensland who took out consumer credit loans from subsidiaries of Cash Converters between July 2009 and June 2013.In October last year, the company paid $10.6 million to settle another class action brought by Queensland borrowers. It also agreed to pay legal and administrative costs of $5.8 million.In 2015 it paid $20 million to settle a class action claim brought by New South Wales borrowers over fees and charges. The claim has asserted that a deferred establishment fee charged on loans was not lawful.Class action claims are not the company's only problems. Earlier this year, it wrote off $5 million of loans after a credit risk review.It reported bad and doubtful debt expense of $60.4 million in the year to June, an increase of 90.5 per cent over the previous year. It made a loss of $1.7 million, compared with a profit of $22.5 million in 2017/18. A $16.4 million payout to settle a class action contributed to the fall in earnings.The company has also been in trouble with the regulator over the years. In 2016 it repaid $10.8 million to borrowers and paid a fine of $1.3 million after ASIC found that it did not verify applicants' expenses when it was assessing them for small amount credit contracts.