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 Posted: Thu Aug 09, 2007 2:18 pm Subject: Is this Legal?
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owe more than my monthly income and now I realize I am being hit with high interest rates, late fees the whole "We are going to help you dig a bigger hole to jump into." I need help and advise to deal with these vultures in a civil way. Can some one advise me of Ohio Laws regarding cash advance, can they actually dictate my bank account like that, how can I get rid of them with out paying all that money. Thanks in advance for any advice you can give me.
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jcqlnrsmith
Joined: 09 Aug 2007
Posts: 1
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Steg
Joined: 22 May 2006
Posts: 392
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Posted: Thu Aug 09, 2007 8:08 pm Subject: ohio
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Well, we know you're in Ohio. So I'm posting the Ohio state pdl law. However, could you please post the names of the pdl's you have, how much you borrowed (principle only) and how much you have paid back? With this information, we will be able to help you further. 
| Quote: | Legal Status: Legal (Applies to check cashers only)
Citation:
Ohio Rev. Code Ann. ยงยง 1315.35 et seq.
Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
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: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
http://www.com.state.oh.us/dfi/ |
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cannr
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Joined: 07 Jun 2007
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