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 Posted: Thu Jan 11, 2007 6:04 pm |
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I finally had an opportunity to check out PA laws, if I am reading PA correctly, PDL are not allowed to use triple interest and I know that the oens that I had were way out there (600-700)and I know it was stupid but things at the time were really nasty. I've defaulted on quite a few of them about 2 years ago which put an overdraft on my bank account and I haven't corrected that yet. I think I'm at the point now that I can finally do something about this, but I have one question before I start to get a copy of my credit report to see who is on there....does the PDL loan go by the state which I live in or the state where the money came from? I know one of the loans I defaulted on from Nevada.
I just want to get my facts together before I start writing letters and trying to get my bank account straightened out, thanks!
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crochetbackupmg
Joined: 11 Jan 2007
Posts: 2
Debtcc Points: 75
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| Posted: Thu Jan 11, 2007 6:07 pm |
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Payday loans are prohibited in your state.
| Quote: | | Legal Status: Prohibited |
Pdls are supposed to abide by the laws of the state that the consumer lives in.
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brownsugar
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| Posted: Thu Jan 11, 2007 6:18 pm |
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But Brownsugar, you know that there are pdls who still believe that the consumer is so naive that we won't look into the laws of that state. That's what's so great about this website where you can find out the truth about what these people do to you.
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Alexandra
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| Posted: Thu Jan 11, 2007 6:31 pm |
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Check out this website www.paydayloaninfo.org. It has some great information on payday loans and the laws in your state. Just remember pdl's have to follow the law in your state.....
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bdouble
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| Posted: Thu Jan 11, 2007 6:34 pm |
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Is there a place where I can get a copy of the law on line? I would like to get it and print it and then start the good fight so I can get my bank account back, the overdraft was due to payday loans, thanks!
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crochetbackupmg
Joined: 11 Jan 2007
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Debtcc Points: 75
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| Posted: Thu Jan 11, 2007 6:40 pm |
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Go to the website mentioned above in bdouble's post. Click on the state information; scroll down and then click on your state. From there, you can print out the payday lending laws for your state.
Alexandra, that is so true!! I admit that I was naive about the pdl laws until I found this site. It has really helped me out alot.
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brownsugar
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| Posted: Thu Jan 11, 2007 7:41 pm |
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I secon Srownsugar! this site was a God send for me also and what an eye opener. If you are like me you will become educated in the laws extremely fast. Good Luck.
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irish51cc
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| Posted: Thu Jan 11, 2007 7:44 pm |
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Thank you folks! Now I have to figure out a good letter so I can get these guys off my back and figure out how to approach the bank as I haven't done anything abot the overdraft because of fear.
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Guest
Debtcc Points: 100
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| Posted: Thu Jan 11, 2007 8:33 pm |
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Good Luck, Guest 
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brownsugar
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