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 Posted: Fri Feb 01, 2008 8:54 am
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I need Help please!!!! I have 4 pdls and i can't seem to get them paid off. My bank acct has been in the negative numbers for months because of these stupid loans. I am now behind 4 payments on my car (they are threatining to reposses my car now cause of it), and all of my other basic bills, I now have the storefront pdl place calling me all day and harrassing me. I just got off of the phone with her and threatened to have me thrown in jail what should I do?
I live in Ohio and have loans with the following places
STOREFRONT:
Cashland- (borrowed)650.00 (paid back)371.87 (still owe) 395.98 This one has defaulted one payment of (371.87) on 1/21/08
INTERNET:
Paydayone- (borrowed)500.00 (still owe) 575.00
This one is not due till 2/11/08
Payday1(borrowed) 500.00 (still owe) 575.00
This one is not due till 2/22/08
Payday ok- (Originally borrowed)500.00 (In Dec of 06) (still owe) 176.00 at this moment I don't really know how much I have repaid them. This one is due to come out today.
I am at my wits end trying to figure out what to do.
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Guest
Debtcc Points: 100
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Posted: Fri Feb 01, 2008 9:42 am
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Welcome to the site. Take a deep breath we can help you here. We need to determine if your internet companies are legal. The store front is most likely operating legally. You'll need to work out a payment arrangement with them. Best thing to do is to speak to the branch manager. They seem to be more willing to help then the regular clerks. If you can please register so we can get your state laws posted for you.
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lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
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Posted: Fri Feb 01, 2008 9:45 am
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Hello guest, I am from Ohio too. First thing I noticed is Payday OK, no license to provide loans for Ohioians, I know this for sure because I have personally dealt with them. All you owe them is the principal amount you borrowed, so it would be in your best interest to add up what you have paid to them, if you have paid them more then the principal amount, they owe you a refund, that doesn't mean you will get one, but if I were you I would sure try! Unless they have recently gotten a license (Payday OK) to loan money in Ohio (which I doubt), then you need to report them to the FTC and the BBB! How much have you actually paid to these Internet companies?
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 2947
Debtcc Points: 20406
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Posted: Fri Feb 01, 2008 9:49 am
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Here are the state laws for Ohio
| Quote: | Ohio State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Ohio Rev. Code Ann. ยงยง 1315.35 et seq.
Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
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 refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance
Regulator Website
http://www.com.state.oh.us/dfi/ |
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lmk3524
Joined: 06 Sep 2007
Posts: 437
Debtcc Points: 4188
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 2947
Debtcc Points: 20406
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