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 Posted: Wed Oct 11, 2006 9:32 am Subject: Interim and GFS |
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Does anyone know if Interim and GFS are licensed to lend in the State of Al?
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arj800
Joined: 09 Oct 2006
Posts: 82
Debtcc Points: 1745
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| Posted: Wed Oct 11, 2006 10:46 am Subject: |
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Neither one are licensed in AL.
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apaverystar23
Debt Samaritan
Joined: 06 Apr 2006
Posts: 223
Location: Texas Debtcc Points: 4900
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| Posted: Wed Oct 11, 2006 12:23 pm Subject: |
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I registered with Langhorne law what can i do if they pdl companies try to come after me?
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arj800
Joined: 09 Oct 2006
Posts: 82
Debtcc Points: 1745
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| Posted: Wed Oct 11, 2006 12:35 pm Subject: |
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The payday loan companies must be licensed in the borrower's state before lending the loan. Ask your consolidation company to contact the lenders and pay the principal amount and the charges allowed by your state. The lenders will try to mislead you by giving obnoxious interests and fees. Remember, your state laws are there to protect you from such companies that put excessive charges on the loan principal. Don't panic, use your legal rights and you will remain safe.
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FlyingCats
Debt Samaritan
Joined: 05 Aug 2006
Posts: 483
Debtcc Points: 6791
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| Posted: Wed Oct 11, 2006 12:39 pm Subject: |
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| Quote: | Legal Status: Legal
Citation:
Ala. Code ยง 5-18A-1 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 10-31 days
Maximum Finance Rate and Fees: 17.50%; 3%/month after default
Finance Charge for 14-day $100 loan: $17.50
APR for 14-day $100 loan: 456.25%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500)
Rollovers Permitted: One (rollover)
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan: Yes
Collection Limits:
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check
Criminal Action: Prohibited (Unless check returned due to closed account) |
You will find the legal contacts in your state at this link. You can file your complaints in the State AG's office and the Dept of Financial Institutions.
http://www.debtconsolidationcare.com/getting-loan/about15730.html
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PassionHunting
Joined: 30 Jun 2006
Posts: 515
Debtcc Points: 3673
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| Posted: Wed Oct 11, 2006 12:41 pm Subject: |
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Thank you passionhunting, that is just what I needed.
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arj800
Joined: 09 Oct 2006
Posts: 82
Debtcc Points: 1745
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| Posted: Wed Oct 11, 2006 12:54 pm Subject: |
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I have a loan with GFSIL. The original loan amount was for $200 and the fee was $79.00. I have paid them a total of $474.00. According to the Alabama state laws, if I am reading correctly they owe me a refund of $195.00. How can I pursue this. How can I get copies of my loan documents from them. All of this was done online.
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arj800
Joined: 09 Oct 2006
Posts: 82
Debtcc Points: 1745
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| Posted: Wed Oct 11, 2006 1:42 pm Subject: |
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Use the template letter on this site, insert your state's pdl laws where needed, if you've filed a complaint with your ag's office include that in the letter as well (in mine I added the telephone number of the ag's office and my complaint reference number) Also state that you are demanding that the loan be paid in full and a refund of $195. Then you wait for their response and stand your ground. If you have registered with Langhorne Law then he would be the one to deal with your pdls, that is what your fee is for, and he knows how to deal with them. But I encourage you to send your letters to the one's you have over paid and feel you are due a refund.
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WHEREAMI
Joined: 26 Aug 2006
Posts: 5324
Debtcc Points: 71256
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