State Lending Laws for Everyone

ok, i'll post it as soon as I can figure out how, it keeps telling me the spam filter is blocking it.

Here's another one:

www(dot)paydayloanlaws(dot)com/

Thanks Sue; I actually have everything in one document by state, that's what I can;'t figure out how to post. Good thing my major wasn't computer science.

You can email it to me if you want and I can see if I can post it if you want. Pretty much if Tammy has it I have it so I bet I have it somewhere. I keep all the site bookmarked, it's easier for me.

Wow, that's ugly!!

:shock: Lol, that is ugly- my eyes were crossing by the time I got down to the bottom of that! I've never seen that one before.

No good way to post it, sorry everyone. If you really want the document pm me your email address and I can send it to you.

Very helpful links, Sue. :) This will only help. You can store it in your blog also if you have one. I will bookmark this page for sure.

Fantastic! This is great thank you. This is a big help to me and I am sure a lot of people
Thanks again

Can someone explain to me what the statues are under the al law for pdl? I am confused. Thanks

http://www.bank.state.al.us/regulations/loans/Main_Menu.htm Try this link, and look around I hope it helps.

According to AL law, Section 5-18A-12, for licensed deferred presentment transactions (payday loans) the max interest rate is 17.5%, and the largest the payday loan can be is $500. So the largest interest rate possible would be $87.50 on a $500 loan. I can assure you FSM and FRT are not licensed in AL, so they are both in violation of the interest caps set forth by AL state laws. This is what give you the power to only pay back the principal amount you borrowed. Hope that helps! :)

yes that has helped. I have one payday lender that is charing me $90.00 on a $300 loan so according to al law is this legal?

Not that isn't legal, they are overcharging you.

Ok. I am going to get my letters together tonite. I need to put an end to all this madness.

Good for you! Getting started is the toughest part- and we're more than willing to help you out with that. Let us know how you're doing!

I will, I went to pollys home page and I am confused at to where I enter the information. Can you help on this please or if you have a samlpe letter that you used yourself can I see that.

Check you PM in a little bit, I'll show you how to make your info fit the letter. :-)

Also, while I'm getting that together, write down what your original loan amounts were with your PDLs and what you've paid back in total to each one so far. :-)

Ok, I've pretty much everything together, let me know when you're ready. :-)

I will check, Thank you Apaverystar23. I really appreciate your help.

I'm glad to do it. :-)