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Old 09-16-2009, 10:16 AM
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Default Montana PDL Laws

Does anyone have access to Montana PayDay loan laws and what the law is on closing your checking account if you have outstanding payday loans? I have some storefront and internet and I just finally got my account in the positive and am curious if I should close it and work with the local companies on a payment plan? I am just beginning to tackle this PDl problem of mine and need to know where to start. Any help is gratiously appreciated.........

help from montana!
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Old 09-16-2009, 10:19 AM
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Hi neighbor! Click the link below to read your payday loan laws:
http://www.paydayloaninfo.org/state_detail.cfm?id=MT
Montana requires Internet lenders to be licensed by your state.
You can contact your Division of Banking and Financial Institutions at (406) 841-2920.
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Old 09-16-2009, 10:32 AM
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Who do I call to find out if I can get into legal trouble if I close my account before all the accounts are paid in full?
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Old 09-16-2009, 10:58 AM
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Sorry, I didn't answer that question. Criminal action is prohibited in the state of Montana for defaulting on a loan. If you would list the following information I can give you more accurate advice, list the following:
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
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Old 09-16-2009, 12:21 PM
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I will gather that information and send that to you. I just don't have it with me right now. As for today, do you know if I can close my checking account if I still have outstanding loans and not get in trouble? Some threads say "Do not close your account" you can get in trouble with the companies...etc.
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Old 09-16-2009, 01:00 PM
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It depends on your financial institution, click the link below before you decide to close out your account, I honestly do not think you can get into trouble unless you have pre-dated checks out. http://www.debtconsolidationcare.com...ad.php?t=22622
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