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 Posted: Wed Dec 06, 2006 2:47 pm Subject: Payday loans and installment loans |
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Are there laws governing installment loans at these payday loan places?
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lila
Joined: 06 Dec 2006
Posts: 3
Debtcc Points: 85
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| Posted: Wed Dec 06, 2006 2:57 pm Subject: |
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Every state has the maximum loan amount and the terms of the loan contract. There are fixed interest rates and fees beyond which lenders are not allowed to charge legally. Look into your state for understanding the permissible loan terms.
No company is legally allowed to do business outside the terms set by the state. The contract will be done in accordance with the state laws of the borrower
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BuildingWealth
Debt Samaritan
Joined: 30 Jun 2006
Posts: 500
Debtcc Points: 4962
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| Posted: Wed Dec 06, 2006 3:47 pm Subject: |
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Watch out for these companies b/c I live in a state where they are prohibited, but still I got them...Later when the harassment started I began researching and discovered that they are prohibited..
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Guest
Debtcc Points: 100
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| Posted: Wed Dec 06, 2006 5:48 pm Subject: |
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I never new pdls were prohibited in my state until I stumbled upon this site. I am so glad i found this site, after reading all these horror stories and found people in the same situation as me I started to feel better on how to go about handling these pdl people.
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traci78
Joined: 04 Oct 2006
Posts: 106
Debtcc Points: 587
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