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 Posted: Thu Nov 08, 2007 3:27 pm Subject: harrassment |
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I have several payday loans overdue once i got one it was an endless cycle. I live in Missouri and I am trying to find out if what these companies are doing to collect this debt is legal. They come to our house and leave cards on the door if we dont answer, they call my husbands job even though he has told them not to they usually call all of our numbers cell home etc several times a day, and now they have been putting through our past checks to them almost 3 times a week and running up isf on our checking. We have an attorny and are thinking of filing for bankruptcy, we have already paid our retainter fee, so what can we do to get them to stop all of this? Is it legal for them to be collecting this way?
Thank you for your help
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jleacombs_1980
Joined: 08 Nov 2007
Posts: 1
Debtcc Points: 35
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AnthonyLemons
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Joined: 17 Feb 2007
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Debtcc Points: 18434
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| Posted: Fri Nov 09, 2007 1:57 pm Subject: r |
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anthony, I'm going to assume these are storefronts since they are coming to this persons home and also putting checks through up to three times per week. I can post the pdl law for Missouri, if that helps.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Fri Nov 09, 2007 1:58 pm Subject: r |
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| Quote: | Missouri State Information
Legal Status: Legal
Citation:
Mo. Stat. Ann. § 408.500 et seq.; Mo. Code Regs. Ann. Tit. 4 § 140-11.010 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: 14-31 days
Maximum Finance Rate and Fees: Not Specified (No borrower shall be required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan for the entire loan term and all authorized renewals. Otherwise, interest is set pursuant to small loan law which provides that parties may set rate by contract.)
Finance Charge for 14-day $100 loan: $75
apr for 14-day $100 loan: 1980%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Six (borrower must reduce principal amount of loan by 5% or more upon each renewal)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check.
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)
Where to Complain, Get Information:
Regulator: Missouri Division of Finance
Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102
Phone: (573) 751-3242
Fax: (573) 751-9192
Regulatory Contact: Joe Crider,, Supervisor, Consumer Credit
http://www.missouri-finance.org/ |
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cannr
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Posts: 9374
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