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 Posted: Wed Nov 14, 2007 11:51 am Subject: pdl debt help
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I have 9 pdl I live in wash, dc
loan shop
usfatcash
osl
ftr
payday2go
big time
united cash loans
2d payday
quick cash
how can I pay off these someone please help[
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life
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Debtcc Points: 100
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Posted: Wed Nov 14, 2007 12:35 pm Subject:
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life, i will post dc laws and info for you. Please list whether they are store front or interned, how mych you borrowed from each and the total of how much you have paid to each.
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RoxyNY
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Posted: Wed Nov 14, 2007 12:38 pm Subject:
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Here are the laws:
| Quote: | D.C. State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
D.C. Code Ann. § 26-301 et seq.
Loan Terms:
Maximum Loan Amount: $1000
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 10% of face amount + fee of $5: $0- $250; $10: $251-$500; $15: $501- $750; $20:$751-$1000
Finance Charge for 14-day $100 loan: $16.10
apr for 14-day $100 loan: 419%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: D.C. Department of Insurance, Securities and Banking
Address: 810 First Street, NE, Suite 701 Washington DC 20002
Phone: (202) 727- 8000
Fax: (202) 535-1197
Regulatory Contact: Howard Amer,, Director, Banking Bureau |
Internet lenders, before and after the new law, must be licensed by DC.
No limits to Rollovers.
Specific amounts can be charged.
(thanks Goudah)
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In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
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Joined: 03 Aug 2007
Posts: 4112
Debtcc Points: 11516
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Posted: Wed Nov 14, 2007 12:40 pm Subject:
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Most of these are internet ones which you can pretty much forget about if you can stand the collection calls. Ignore the threats.
But some of the names I don't recognize. Were they storefronts? Until a couple of weeks ago, stores could legally operate in DC and I don't think the new law (that capped interest at 36%) was retroactive. If any of these are storefronts (and the stores are still open) you should try to work out payment arrangements with the store managers.
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FreakyFriday
Joined: 13 May 2007
Posts: 385
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Posted: Wed Nov 14, 2007 12:51 pm Subject:
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i am in dc also life, post what you have paid so far and we will try and help you, i know from looking at your list that i am dealing with a couple of them on your list
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5763
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Posted: Wed Nov 14, 2007 1:04 pm Subject: pdl debt help
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they all are internet
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katesia2002
Joined: 14 Nov 2007
Posts: 47
Debtcc Points: 1531
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Posted: Wed Nov 14, 2007 1:04 pm Subject: pdl debt help
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they all are internet
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katesia2002
Joined: 14 Nov 2007
Posts: 47
Debtcc Points: 1531
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