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pay day loan help

 
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PostPosted: Wed May 28, 2008 2:20 pm Subject: pay day loan help

Does anyone know the laws for payday loans from UTAH?


When I file a complaint against a company do I do it in the state that I live in or where the payday loan is from?

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gottaloveit
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PostPosted: Wed May 28, 2008 6:46 pm Subject:

Hello and welcome! Complain in the state you reside, here are you laws. Smile
Utah State Information
Quote:

Legal Status: Legal (Applies to check cashers only)

Citation:
Utah Code Ann. ยง 7-23-101 et seq.

Loan Terms:
Maximum Loan Amount: No Limit
Loan Term: May not exceed 12 weeks
Maximum Finance Rate and Fees: No usury limit
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time: No limit
Rollovers Permitted: Not Specified (cannot extend or renew loan more than 12 weeks from original loan date)
Cooling-off Period: None
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Utah Department of Financial Institutions
Address: 324 South State Street, Suite 201 Salt Lake City UT 84111
Phone: (801) 538-8830
Fax: (801) 538-8894
Regulatory Contact: ,

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