Internet's first get-out-of-debt community - 134,000 members

Posted: Thu Aug 07, 2008 5:44 am Subject: New Ohio Law status?

I've been pretty busy recently and I've not been watching the news, does anyone know what happening here in OHIO with the new law? I think it is suppose to go into effect in just a few weeks, but I've not seen any changes around my area as far was store closing...I know they are gathering signatures but I don't know how long they have to get them. I really thought I'd start seeing "movement" by now....Reny

Guest · Posted: Thu Aug 07, 2008 6:14 am Subject:

i am in ohio...the last i heard that the language proposed by payday lending supporters was approved by the ohio house (?)...so that means if they can collect enough signatures in support, it will be put forward for ohio voters in november.

that's what the payday place i used to go to told me.

also, i have noticed that some of the stores are again accepting new customers. so it seems as if they are operating on the assumption that they will receive enough signatures and that ohio voters will keep them open.

Posted: Thu Aug 07, 2008 9:31 am Subject:

from the dayton daily news....

Posted: Thu Aug 07, 2008 5:26 pm Subject:

HUMMMMMM, yes I thought it should take effect within a couple of weeks...I'm so excited to see what happens.

Posted: Fri Aug 08, 2008 5:40 am Subject: New Ohio Law Status

They have until the end of this month to get enough signatures for the ballot. Mad

Mindy2006 · Posted: Wed Aug 20, 2008 7:27 pm Subject:

We have until the 31st to get the signatures. They will grant a stay until the 22nd of September to verify the signatures if we get enough. No doubt we will. I have faith that the people will vote for us in November!!!!!!

Posted: Thu Aug 21, 2008 11:41 am Subject: New Ohio Law Status

Mindy -
Have you actually read some of the posts on this site? Have you read about the agony some of these people are in? How can you come on this site where people come for help and gloat about your dream of victory? I know people I will genuinely feel sorry for if their storefronts close, but YOU will not be one of them!

Posted: Thu Aug 21, 2008 1:34 pm Subject:

Kporter, I'm so glad you said that!!!

Posted: Fri Aug 22, 2008 5:05 am Subject: New Ohio Loan Status?

Thanks lmale. People like that really tick me off. And those unrealistic commercials they're running are a joke. That's not the face of the typical pdl borrower, nor is it the typical amount borrowed!

Posted: Fri Aug 22, 2008 7:38 am Subject:

I've seen a few of those ads carry over into Kentucky. What a freaking joke. I hope they get defeated in Ohio and then maybe Kentucky will follow suit and cap PDL interest to 28% or so.

Posted: Fri Aug 22, 2008 7:40 am Subject:

Thing is, the way the law is written, it won't do away with pdl's.

They can still charge a $10 - $15 "processing fee" per $100. All they have to do is stop doing rollovers and they can collect that fee every time.

Posted: Fri Aug 22, 2008 7:59 am Subject:

I wonder why they are bothering to fight the new law then if there is a way around it anyway.

Posted: Fri Aug 22, 2008 8:01 am Subject:

I don't get it either...I noticed while out driving yesterday that a few of the PDL storefronts, have banners up saying "We are taking new customers"!!!!

Guest · Posted: Fri Aug 22, 2008 11:08 am Subject:

I do believe that some of them applied for a small loan license. Which yes does allow them to charge the same amount of fees, But I'm not sure exactly how that is all going to work. I heard that you can pay your loan back and they can readvance you right there.??? Defeats the whole purpose of a new law --- I know