Formula to figure out if have paid legal interest
Date: Sun, 12/10/2006 - 15:18
OK so I'm hopeless at math- I'm trying to write the letters to the companies and some i feel owe me refund ie paid back over 800 on a 400 loan with starlight....do I just take the CA legal rate and say you could only charge me $15 per hundred so all I should have paid was $60? And ask for the rest in a refund?? It's all a bit of mystery as according to the CA laws they shouldn't have loaned me more than $300 anyway
I'm feeling really stupid at how to do this!
I'm feeling really stupid at how to do this!
The legal rate in CA is 15% per $100. So the finance charge is$
The legal rate in CA is 15% per $100. So the finance charge is$ 60. Your refund should be about $340. Also make sure the are license to do business in your state. This website http://www.paydayloaninfo.org has alot of information on how to deal with pdl's Under the CA page, there is a link to see if the have a license. Use this information to help get that refund. Stay strong!!!
mskimmers is you need a template letter to request this refund y
mskimmers is you need a template letter to request this refund you can find it on my blog site, keep us posted on the outcome