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Old 11-10-2008, 02:29 PM
kasylvester kasylvester is offline
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Default help in connecticut
my friends sister had a pay day loan from us fast cash. her sister has been in a bad car accident, and they keep calling their house regarless of what my friend tells them. Any help here?? what should she do? they won't disclose any information to my friend regarding her sister. help
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Old 11-12-2008, 12:15 AM
phoenix phoenix is offline
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I found the following information which states that payday loans are prohibited in Connecticut: -
Quote:
Legal Status: Prohibited

Citation:
Usury act applies or small loan act applies. Conn. Gen. Stat.§ 36a-563

Small Loan Rate Cap
30.03% apr or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest

Where to Complain, Get Information:
Regulator: Connecticut Department of Banking
Address: 260 Constitution Plaza Hartford CT 06103
Phone: (860) 240-8299
Fax: (860) 240-8167
Regulatory Contact: Alan Cicchetti Deputy Commissioner
Source: - "http://www.paydayloaninfo.org"
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