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 Posted: Sun Oct 07, 2007 7:47 pm |
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Is security finance a pdl and can they charge a apr of 84% in texas. Is this legal?
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kajunking007
Joined: 06 Oct 2007
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| Posted: Sun Oct 07, 2007 7:50 pm |
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Welcome! Security Finance? Sounds like an installment loan at 84%. Hold on and I'll check....
do you have a loan through them?
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volleyballmom
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| Posted: Sun Oct 07, 2007 7:52 pm |
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I found a Security Finance online & it looks like a PDL. There is an article somewhere on the boards & some PDL's had something like an apr of 94%-so 84% is possible.
I'd stay away from PDL's. They seem to be nothing but trouble.
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lawn1016
Joined: 26 Jul 2007
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| Posted: Sun Oct 07, 2007 7:54 pm |
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I didn't realize loans could charge that high a rate! They seem just as bad a PDLs!
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lawn1016
Joined: 26 Jul 2007
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| Posted: Sun Oct 07, 2007 7:58 pm |
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my wife does have on through them
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kajunking007
Joined: 06 Oct 2007
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| Posted: Sun Oct 07, 2007 8:00 pm |
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Lawn-They are NOT a pdl....and even 84% is awfully LOW for a pdl.
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volleyballmom
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| Posted: Sun Oct 07, 2007 8:00 pm |
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Is it a PDL loan she has or an installment, like Volley mentioned?
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lawn1016
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| Posted: Sun Oct 07, 2007 8:00 pm |
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It is a consumer loan company....licensed only in specific states and credit based.
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volleyballmom
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| Posted: Sun Oct 07, 2007 8:02 pm |
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How did you find that out Volley? Just being curious!
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lawn1016
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| Posted: Sun Oct 07, 2007 8:03 pm |
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The internet....and the BBB.
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volleyballmom
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| Posted: Sun Oct 07, 2007 8:05 pm |
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I figured the internet silly! 
Oh1 BBB! Of course!!
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Mommy to Matthew Patrick...born 3/6/08!
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lawn1016
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| Posted: Sun Oct 07, 2007 8:06 pm |
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It is a consumer lending company. And they are allowed to lend in Texas.
lawn, I don't know what site you went to; however, their site specifically states consumer loans and also shows where they are allowed to lend to.
So, actually, this is an installment loan. This is not a pdl.
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cannr
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| Posted: Sun Oct 07, 2007 8:07 pm |
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Their website states they are a consumer loan company...front page.
Kajunk-Are they charging 84% apr or interest?
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volleyballmom
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| Posted: Sun Oct 07, 2007 8:26 pm |
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volley, apr it does not state anything as to what the intrest is.
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kajunking007
Joined: 06 Oct 2007
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| Posted: Sun Oct 07, 2007 8:29 pm |
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Does it tell you who the loan is backed by?...Probably the First Bank of Delaware.
They sure dont give much info on their loan terms on the website....
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volleyballmom
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| Posted: Sun Oct 07, 2007 8:56 pm |
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I just wrote the Office of Consumer Credit Commisner and I will see what they say
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kajunking007
Joined: 06 Oct 2007
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