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 Posted: Thu Oct 04, 2007 8:29 am |
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I did the payday loan thing and racked up 7k in medical bills.I want to repay everyone but the medical went to a collection agency.I cant afford to have my wages garnished.The payday loans are accepting 20 a month till paid off but the C.A. for medical wants 50 a month.What are my options here.I cant afford to have my wages garnished. I live in montana.
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speedlod
Joined: 04 Oct 2007
Posts: 1
Debtcc Points: 68
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| Posted: Thu Oct 04, 2007 10:48 am |
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There is no guarantee that because you are sending them something that they won't garnish. Have you signed up for a free, no-obligation debt consultation with one of the debt counselors on here?
They will be able to discuss your situation and explain the options available. I know that some people have been able to start working with a debt consolidation program and an affordable monthly payment has been negotiated for medical collections. This gets the C.A. off your back and you can breathe a bit easier.
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Tiffany99
Debt Samaritan
Joined: 15 Jun 2006
Posts: 1064
Debtcc Points: 19129
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| Posted: Thu Oct 04, 2007 10:52 am |
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Hi speedlod. Here are laws regarding pdls for Montana:
| Quote: | Montana State Information
Legal Status: Legal
Citation:
Montana Code Ann. ยง 31-7-701
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 25%
Finance Charge for 14-day $100 loan: $25
APR for 14-day $100 loan: 650%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot renew, repay, or refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees if disclosed
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Montana Department of Administration
Address: Division of Banking and Financial Institutions, 301 South Park, Suite 316 P.O. Box 200546 Helena MT 59620
Phone: (406) 841-2920
Fax: (406) 841-2930
Regulatory Contact: Annie M. Goodwin,, Commissioner
Regulator Website
http://banking.mt.gov/ |
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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| Posted: Thu Oct 04, 2007 10:53 am |
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Speedlod, who do you have pdls with, and are they storefront or internet? Chances are if they are internet then they might be illegal, anyway.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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