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Is there any limit??

Date: Wed, 11/22/2006 - 00:52

Submitted by nemo
on Wed, 11/22/2006 - 00:52

Posts: Credits: [Donate]

Total Replies: 5


Ok, I have 1 pdl that I am paying currently. They have already taken enough out of my account, is there any limit on it? Im form AL.


nemo

Hi, welcome to the forums!

Usually you are only allowed to keep a payday loan for a month in Alabama. You cannot be charged more than 17.5%, and thereafter 3%. One rollover is permitted, and one NSF. Alabama does allow the residents to request a repayment plan if you have defaulted.

What loan company are currently dealing with?


lrhall41

Submitted by Teleport on Wed, 11/22/2006 - 02:59

( Posts: 1388 | Credits: )


This is Alaska State Information

Quote:

Legal Status: Legal

Citation:
Alaska Statute 06.50

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: $5 + the lesser of $15 per $100 or 15%
Finance Charge for 14-day $100 loan: $20
apr for 14-day $100 loan: 520%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Two (renewals)
Cooling-off Period:
Repayment Plan: Yes

Collection Limits:
Collection Fees: $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited (Unless check returned due to closed account)

Where to Complain, Get Information:
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau, AK 99811
Phone: (888) 925-2521
Fax: (907) 465-2549
Regulatory Contact: Patrice Walsh,, Financial Institution Examiner
http://www.commerce.state.ak.us/bsc/


lrhall41

Submitted by keystrokes on Wed, 11/22/2006 - 15:45

( Posts: 495 | Credits: )


can someone please give me the state law for alabama on payday loans. I am having a hard time comprehending what to put in the letter to the pdl company.


lrhall41

Submitted by on Fri, 06/15/2007 - 04:33

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i have 6 pdl out from the internet and i live in nj can you help with this
ameriloan 250 (225 pd with one due out 6/22 for 75)
tendollar 300 (735 pd with one due out 6/22 for 95)
xpresscash 300 (360.00 with ond due out 6/22 for 90)
loanshop 300 (135 with one due out 6/22 for 45)
loanshop 300 (135 with one due out 6/22 for 45)
cashdirect 300 (198.00 with one due out 6/22 for 66)


lrhall41

Submitted by smithmapleshade on Fri, 06/15/2007 - 04:52

( Posts: 36 | Credits: )