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 Posted: Tue Nov 13, 2007 5:46 pm |
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My question is that i have pdl's out and we pay them but im sinking in debt.My pdl's are not done on the comp.I actually have checks written to them if i decide not to pay them what will happen?i live in kentucky.HELP PLEASE................
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lizzy
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| Posted: Wed Nov 14, 2007 8:53 am |
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I split this off the closing your bank account sticky.
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goudah2424
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| Posted: Wed Nov 14, 2007 9:03 am |
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Lizzy - it sounds like these are storefronts. Could you please list who they are with and someone will be able to help you more?
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motomom716
Joined: 17 Oct 2006
Posts: 143
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| Posted: Wed Nov 14, 2007 9:07 am |
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In the meantime Lizzy, here is your state information:
| Quote: | Kentucky State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Kentucky Rev. Stat. Ann. § 368.010 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 14-60 days
Maximum Finance Rate and Fees: $15 per $100
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (cannot renew, rollover, or consolidate)
Cooling-off Period: None
Repayment Plan:
Collection Limits:
Collection Fees: One NSF fee (if disclosed)
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Kentucky Office of Financial Institutions
Address: 1025 Capital Center Drive, Suite 200 Frankfort KY 40601
Phone: (800) 223-2579
Fax: (502) 573-8787
Regulatory Contact: Gary Davis,, Branch Manager
http://www.kfi.ky.gov/
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Someone will be along soon to help you more.
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motomom716
Joined: 17 Oct 2006
Posts: 143
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| Posted: Wed Nov 14, 2007 9:10 am |
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thank you goudah! 
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aminah
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aminah0529
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| Posted: Thu Nov 15, 2007 8:23 am |
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I am bumping this up for cannr to see.
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motomom716
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| Posted: Thu Nov 15, 2007 7:55 pm |
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Thanks, motomom!  lizzy, who are your storefronts with? If you could please list the names of the storefronts, we can check to see if they are actually members of the CFSA. If they are, you may be able to invoke the EPP (extended payment plan) with them. If this is the case, you can go into the storefronts BEFORE the loan is due and invoke the EPP. They will have you sign an amendment to your loan agreement and you can pay your loan in 4 equal payments coinciding with your pay dates. If you list the names of your storefronts, we can check and this might really help you out. We can help you out regardless. I, too, am in Kentucky. So, feel free to post if you like.
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cannr
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| Posted: Thu Nov 15, 2007 8:04 pm |
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Cannr, Lizzy has Cash Express, Pay Day USA and Bluegrass. We covered the CFSA on her other thread..She has another one on page 2 where alot of this was covered. 
http://www.debtconsolidationcare.com/paydayloan/storefront-defaulter.h tml
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RoxyNY
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| Posted: Thu Nov 15, 2007 8:06 pm |
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Oh geez......... Leave it to me to post on and on and it's already been covered!  Thanks, roxy!
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cannr
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| Posted: Thu Nov 15, 2007 8:19 pm |
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Cannr, no worries, I kinda thought this may happen when I saw her post this thread. That is why I popped in and checked where the thread was going. I did not want any of us to double our work. We can bump the other up so we can continue on that one??
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In life it doesn't matter
how hard you hit, it matters
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and keep moving forward.
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RoxyNY
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| Posted: Fri Nov 16, 2007 1:41 pm |
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Well, I went to the other thread and lizzy said "thank you and good night" and hasn't been back. I'm going to assume lizzy will come back if she has any more questions.
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cannr
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