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 Posted: Mon Nov 20, 2006 9:26 am Subject: PDL in Tennessee |
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I need info about settling PDL in Tennessee. I contacted Langhorne Law but they do not cover Tenn.
Anyone have any suggestions? What about restrictions in Tenn. and where do I find out what is allowed by law. None of my PDL are licensed in Tenn. What do I do next? I have not defaulted yet, but have just closed my account and reopened another. Please somone help!!!!!
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atm
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Debtcc Points: 100
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| Posted: Mon Nov 20, 2006 10:05 am Subject: |
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| Quote: | Citation:
Tenn. Code Ann. §45-17-101 et seq. and Tenn. Comp. R. & Regs. § 0180-28-.01
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville, TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill,
http://www.tennessee.gov/tdfi/ |
Are these store front or internet?
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NotsoLucky
Joined: 02 Nov 2005
Posts: 3150
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| Posted: Mon Nov 20, 2006 10:20 am Subject: |
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Hi atm welcome to the boards, I am from TN also and can help you as I am taking PDL here in TN. Anyway are these store fronts or Internet loans, how much did you borrow and how much have you paid back to each company. If you visit my blog and send me an email I can help you work these problems out, maybe easing some of the stress. Good luck and keep posting
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PDLFREE
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Posts: 1264
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| Posted: Mon Nov 20, 2006 10:31 am Subject: PDL in Tennessee |
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Thanks so much Ashley. I will visit your blog site. It is blocked from my work location. I have 5 loans and they are all internet. If you will email me at email address removed as per forum rules - Mike
, I will welcome any help you can give me. Thanks , Thanks , thanks,
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atm
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| Posted: Mon Nov 20, 2006 11:10 am Subject: PDL in Tennessee |
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Sorry, I did not realize I could not post email. I will PM Ashley from her blog site. Any help for this is GREATLY appreciated.
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atm
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| Posted: Mon Nov 20, 2006 11:33 am Subject: |
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Before you begin taking charge on the lenders, you need to know how much is paid in the loan accounts. Go through your statements and know the latest standing. The laws in your state are given above. Keep it besides you and find out if you have to pay any further balance or actually claim for a refund from the loan company. You will take charge only after you have done the homework from your side.
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GunsNroses
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