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 Posted: Mon Apr 07, 2008 4:35 am Subject: How do I get out of the internet payday loan trap?
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I have 4 internet payday loans I cannot renew anymore!Help!What do I do?Can I get in legal trouble?I have been paying renewal fees for months.I live in state of florida but this renewal i just can't do if I don't pay can I get in legal trouble?I want to pay them off and get done but it will take a little time!Please help!!!!!!!!!!
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Diazny4life
Joined: 07 Apr 2008
Posts: 1
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Shazzers
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Posts: 4329
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Posted: Mon Apr 07, 2008 4:48 am Subject:
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Meanwhile, I am going to post the laws for your state.
| Quote: | Florida State Information
Legal Status: Legal
Citation:
Fl. Stat. Ann. ยง 560.401 et seq.; Rule 69V-560.901-912
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
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: One
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes
Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748 |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
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Posts: 4329
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Posted: Mon Apr 07, 2008 4:48 am Subject:
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Hello and welcome to the forums. You have come to the right place to get help with your payday loans. Everyone here is eager to help you get through this ^_^
In order for us to help you better, it is very important that you give us the following information:
*The names of the payday loan companies you have payday loans out with
*The amount you originally borrowed from each company
*And how much you have paid back on each so far
I know you may not know right off the top of your head, but it is very important that you take the time and look through your bank statements and/or call your bank for the amounts debited from your account if you are unsure. It will help us assist you ^_^
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Amaranth
Joined: 10 Mar 2008
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Posted: Mon Apr 07, 2008 4:52 am Subject:
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Whoops! Must have been writing this at the same time as you, Shazzers ^_^
And not to be totally OT, but could you tell me how to correctly copy and paste State Laws for people into a thread for future reference? ( Is there a code or quote? )
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Caress the one, the never-fading rain in your heart; the tears of snow-white sorrow. Caress the one, the hiding Amaranth in a land of the daybreak ~ Nightwish
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Amaranth
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Shazzers
Moderator
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Posted: Mon Apr 07, 2008 5:00 am Subject:
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Ah- I see it now! Thanks ^_^
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Caress the one, the never-fading rain in your heart; the tears of snow-white sorrow. Caress the one, the hiding Amaranth in a land of the daybreak ~ Nightwish
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Amaranth
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Posts: 237
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Posted: Mon Apr 07, 2008 7:33 am Subject: Cash Call
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I have a $5000.00 loan with cash call and I need to know how to get this gone ASAP. I have been having payments taken from my account for about 10 months and I think that my balance is still just over $5000.
What can I do??
Kindly advise,
Josh
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Josh M.
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Posted: Mon Apr 07, 2008 7:36 am Subject:
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Cash Call is not a pay day loan, and it it 100% legal.
Here is some info from another member.
To all those looking for information regarding Cash Call:
Cash Call is NOT a payday loan! They are backed by a bank.
Federal Law allows them to operate when backed by an FDIC insured bank in any state without a seperate license. Federal law also allows them to import the interest rates from their home state.
Since they aren't a pdl, they don't follow the same laws. Cash Call will sue someone if they don't pay, and they will win because they are 100% legal.
Since they are backed by an FDIC insured bank, usually First Bank of Deleware, they are allowed to import their interest rates from their home state. So the interest rate of 99.24% is totally 100% LEGAL.
This company sucks! They are evil, evil, evil. If you don't pay them, they will sue you. But they won't sue you right away. They will wait a few months so that your balance ballons up, then sue you because they know that once a judgement has been entered against you they will not get their 99.24% interest any longer.
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kashzan
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Posted: Tue Apr 22, 2008 11:27 am Subject: Cash Call Help
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I had a loan with them also. I got in touch with BHR Associates and they were able to help me. I should be finished with BHR in October of this year and loving every minute of it, since they got CASH CALL off my back!!!
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Sulma
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