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zeekdog1@yahoo.com · Posted: Wed May 02, 2007 11:19 am Subject: help with maine laws with payday loan

I live in Maine and have 5 payday loans out. Could someone help me the laws in Maine. I have read them but do not understand. thanks

Posted: Wed May 02, 2007 12:03 pm Subject:

Check out this link

http://www.debtconsolidationcare.com/maine/paydayloan-laws.html

Which loan companies are you dealing with? How much have you paid to them?

Posted: Wed May 02, 2007 12:17 pm Subject:

If you check out the link aciotsf provided it has a bunch of info about the laws of Maine. They actually have some pretty good laws regarding pdl's . . . . . Only supervised lenders are allowed to do payday loans, and I'd be willing to bet that none of the companies you borrowed from are supervised lenders. Maine also has a law that specifically says that with respect to a payday loan, the lender, wherever located, enters into a payday loan transaction with a consumer who is located in this state in bound by the laws of Maine.

I would recommend contacting your state's banking dept and attorney general's office and filing complaints against these companies. Then you need to close your bank account that they have access to. When you do this ask your bank what their policy about ach transactions going through on closed accounts are. Some banks will "force" open a closed account and allow the transaction to go through, leaving you oweing the bank money, not the illegal pdl. If your bank does have this policy, ask them to make your account deposit only. This will prevent any transaction from going through once the account is closed. They can also put a freeze on the account.

Guest · Posted: Fri May 04, 2007 7:07 am Subject:

Ameriloan
GFSIL
Authpayday
CMG group
PCN LLC also know as Pay Check now
I am not sure how much I have paid on the first four it has been a lot. The last one I have not started to pay yet.

Posted: Fri May 04, 2007 7:10 am Subject:

you need to go through your bank statements and find out how much you have paid and how much you have borrowed from each company

Guest · Posted: Fri May 04, 2007 7:26 am Subject:

I am working on that right now.
So far I have come up with
GFSIL loan amount 200. Paid 295 Still owe $255
authpayday pay off 325 original 300 total paid 535
I am not sure about Ameriloan, still adding up.
What do I do next?

Guest · Posted: Fri May 04, 2007 7:31 am Subject:

Ameriloan total paid 1070 pay off 260 and original loan 400.

Posted: Fri May 04, 2007 8:00 am Subject:

These loans are pif...you need to send them letters stating your state laws, how much you have already paid them and tell them to mark your accounts PIF

tsutherland1 · Posted: Fri May 04, 2007 8:52 am Subject:

When I called them they told me that I signed a paper stating that I would adhere to the Utah laws? I am in the process of gathering all of my original loan documents. I can't close my account at the bank because it is in the negative. I have contacted Maine Department of Consumer Credit regulations and gathering everything for them. Any other advise? When do I find the Maine law?

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help with maine laws with payday loan

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