payday loans in rhode island
Date: Tue, 07/03/2007 - 10:55
these are some of the laws about payday loans in my state.. I had taken a loan from my employer to pay off some but i still need help
Rhode Island Payday Lending Laws
Rhode Island has legalized payday lending in the state. The minimum term for a payday loan is thirteen days, and there is no maximum term. The maximum amount a borrower can take out is $500. A lender may charge either 15% per check in interest, or $15 per every $100 loaned. This creates an average apr of 390%. Although 390% is astronomically high in comparison to a student loan, car loan, mortgage, or even credit card interest rate, it is quite low for a payday loan interest rate.
Legal Status:
Legal
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 13 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3/$500
Rollovers Permitted: One (rollover)
i am not sure how i could write a letter to help me reslove them.. my email is EMAIL REMOVED FOR YOUR PROTECTION:AMY
Rhode Island Payday Lending Laws
Rhode Island has legalized payday lending in the state. The minimum term for a payday loan is thirteen days, and there is no maximum term. The maximum amount a borrower can take out is $500. A lender may charge either 15% per check in interest, or $15 per every $100 loaned. This creates an average apr of 390%. Although 390% is astronomically high in comparison to a student loan, car loan, mortgage, or even credit card interest rate, it is quite low for a payday loan interest rate.
Legal Status:
Legal
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 13 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3/$500
Rollovers Permitted: One (rollover)
i am not sure how i could write a letter to help me reslove them.. my email is EMAIL REMOVED FOR YOUR PROTECTION:AMY
Could you please give us some more information to help you? Are
Could you please give us some more information to help you? Are you dealing with internet pdls or storefront ones? What are the names of the companies you are dealing? How much have you borrowed and how much have you paid so far?
pay day loan interent
well i was going through a rough time and i got a ton. i was able to borrow money from my employer. i have always paid the interst but it feels like the principal never goes down and its my whole paycheck it feels like
payday service 250
payday select 500
payday one 500-
cash transfer centers 381- overdraftied my checking acct
my cash now 150-this is a feasable one
vc funding300 -
genevar roth 400-