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jail and pdl debt

Date: Sun, 11/19/2006 - 03:42

Submitted by anonymous
on Sun, 11/19/2006 - 03:42

Posts: 202330 Credits: [Donate]

Total Replies: 11


I got a pdl off the internet and was unable to pay. I lived in ohio at the time. Now I am living in N. Carolina. Can I go to jail if I don't pay off this debt. I am going to declare bankruptcy in Feb.


ABSOLUTELY NOT. Ohio doesn't allow for criminal prosecution for defaulting on a pdl and they are ILLEGAL in NC. You aren't going to jail! :D Which company are you dealing with, maybe somebody with experience with them can tell you how to handle them or what to expect from them. By the way, only one internet pdl is licensed in OH and that is CashNetUsa, and their parent company is Check Giant LLC. You aren't going to jail.


lrhall41

Submitted by WHEREAMI? on Sun, 11/19/2006 - 05:27

( Posts: 5263 | Credits: )


The payday people know this also that they have to follow your state laws. What cracks me up is when they say they are based out of Grenada or something. They definately are out for blood. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Sun, 11/19/2006 - 20:16

( Posts: 2477 | Credits: )


bob_lora_alex - rest assured they cannot jail you for PDL debt. If they could, the majority of us on this board would have been in jail by now. They will threaten many things though:

-jail
-coming to your workplace to arrest you
-siezure of property (house, car, etc.)
-calling your employer (they WILL try to do this one, in an attempt to humiliate you into paying them)
-fraud charges
-calling your bank

They will threaten a lot, but keep in mind, if they are not licensed in your state (which most internet PDL's are NOT), they don't have a leg to stand on as far as the arrest/jail threat. You cannot be jailed for PDL debt, especially with an internet PDL.

Stand your ground, and know your rights. Check out your state's PDL laws, the interest rate cap, and find out if they are licensed in your state. Then, when they try to push you, PUSH BACK!


lrhall41

Submitted by SUEBEEHONEY70 on Mon, 11/20/2006 - 04:55

( Posts: 4583 | Credits: )


Here is Texas:

Quote:

Citation:
7 Tex. Admin. Code ???? 1.605; Tex. Fin. Code Ann. ???????? 342.251 et seq. and 342.601 et seq.

Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin, TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
Regulatory Contact: ,
http://www.occc.state.tx.us/

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period: 24 hrs
Repayment Plan:


lrhall41

Submitted by cbigfan7 on Mon, 11/20/2006 - 14:05

( Posts: 168 | Credits: )