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 Posted: Sat Nov 10, 2007 12:11 pm Subject: internet payday loans south carolina
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Are internet payday loan legal in South Carolina I Have 2 that I have payed 90 dollars on each. They are 300 dollars a piece. I would like to find a way to pay them off or consolidate them.
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Sat Nov 10, 2007 12:22 pm Subject: Please help
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Can anyone help me
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Sat Nov 10, 2007 8:22 pm Subject: r
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| Quote: | South Carolina State Information
Legal Status: Legal
Citation:
S.C. Stat. Ann. 34-39-110 et seq.
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15%
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: Not Specified
Rollovers Permitted: None
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Lesser of: NSF fee of $10 or actual charge
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: South Carolina State Board of Financial Institutions
Address: Consumer Finance Division, P.O. Box 11905 Columbia SC 29211
Phone: (803) 734-2020
Fax: (803) 734-2025
Regulatory Contact: C. Dean Bratton,, Commissioner of Consumer Finance
http://www.scconsumer.gov/ |
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cannr
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Posted: Sat Nov 10, 2007 8:22 pm Subject: r
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pan, which pdls do you need to know if they are licensed/legal? We can check for you.
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cannr
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Posted: Mon Nov 12, 2007 5:48 am Subject: payday loan south carolina
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Thanks Cannr they are One Click Cash and US Fast Cash
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Mon Nov 12, 2007 7:52 am Subject:
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Neither of those companies are going to be legal.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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Posted: Mon Nov 12, 2007 8:02 am Subject:
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What do I need to do to pay them off
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Mon Nov 12, 2007 8:10 am Subject:
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If you borrowed $300 and have paid back $90, you would owe them $210.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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Posts: 8007
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Posted: Mon Nov 12, 2007 8:36 am Subject:
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Should I let them Debt my account two more times or can I stop the debts and send them a money order on the paydays to pay them off
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Mon Nov 12, 2007 8:53 am Subject:
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I would not let them touch your account. Pay only with money orders or other ways that don't give them access to your account information.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
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Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111673
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Posted: Mon Nov 12, 2007 9:00 am Subject:
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How do I stop the debts on my account
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Mon Nov 12, 2007 1:53 pm Subject: r
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pan, honey, CLOSE YOUR BANK ACCOUNT. I'm sorry, but One Click Cash and USFastCash are both d/b/a's of MTE Financial. Unlicensed/illegal. And they will debit your bank account until the cows come home if they have access to it. Close your account. I'm going to post something regarding closing your bank account that I need for you to read, okay? Read it carefully. If you have any questions, post them. Your first priority is to get this bank account to where the pdls can no longer debit. Do NOT allow them to debit any longer. They will take you for thousands for a $300 loan. Read what I am going to post. Ask any questions. We need to get your bank account straightened out first and then we will tackle these illegal idiots.
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cannr
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Posted: Mon Nov 12, 2007 1:55 pm Subject: r
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Compliments of goudah! 
| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches! |
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cannr
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Posted: Mon Nov 12, 2007 2:04 pm Subject:
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Thank You. Where can I get a sample letter to send them to stop debiting my account so I can send them and make copies to take to the bank when I go. Do I have to mail the letter or can I fax it.
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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Posted: Mon Nov 12, 2007 2:21 pm Subject: r
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pan, you can email it/fax it/ but make sure you send a hard copy certified mail to them to be sure they get it. Now, do you know how to use the 'pm' feature so that we can send pm messages to each other? Under my post is a button with 2 people on it and it says "pm". Click on that. You should come to a page where you can directly send me a message. Try it and see if it works. I'll respond, make sure you're getting your messages, then I'll send you an 'example' letter you can use. It covers everything. Try to send me a 'pm', okay? 
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cannr
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Posted: Tue Nov 13, 2007 9:23 am Subject:
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Did the pm come through
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pandiej
Joined: 10 Nov 2007
Posts: 18
Debtcc Points: 467
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