|
#2
11-23-2008, 11:29 AM
|
|||
|
|||
Virginia State Information
Legal Status: Legal Citation: Va. Code Ann. § 6.1-444 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: Min: 7 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 (cannot refinance, renew, or extend) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250) Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Virginia Bureau of Financial Institutions Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond VA 23218 Phone: (804) 371-9657 Fax: (804) 371-9416 Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance 
|
|
#3
12-02-2008, 06:23 PM
|
|||
|
|||
|
pdl law
HI, I`VE BEEING THREATEN BY A PAYDAY LOAN PLACE THAT I BORROW 220.00 AND WAS UNABLE TOO PAY IT BACK ON TIME BECAUSE CHECKING ACCOUNT WAS FROZEN FOR A WHILE AND THEN I FILE BANKRUPTY DUE TOO MUCH credit card debt. NOW THEY WANT ME TOO PAY 890.00 FOR 220.00 AND THEY WAS TELLING ME SOMETHING ABOUT THE PDL LAW WHICH I DON`T UNDERSTAND. IF YOU COULD EXPLAIN TOO ME WHAT I CAN DO OR WILL I HAVE TOO PAY THE FULL AMOUNT. THE PAYDAY LOAN PLACE WAS QUICH CASH MTE AND YOU CAN EMAIL ME AT edited*ND.
|
|
#4
12-03-2008, 10:32 AM
|
|||
|
|||
|
DH-
I don't even have to ask you which state you're in b/c MTE isn't operating legally anywhere. They are, however, ruthless in their collection efforts. You owe them no more than the principal of the loan ($220). Subtract from that anything you've already paid them. I'm sure they don't understand what they told you either--but they normally ramble off blather about how your state laws don't apply to their internet business model. A number of us have dealt with them...and the only way to deal with them is to file a complaint with your state Attorney General's Office...I'd also file a complaint with the Attorney General's Office in Oklahama (where their business address is) since they were ordered to cease and desist funding loans well over a year ago. I just think it adds a nice touch...
|
Linear Mode
