Help me understand Indiana Codes for payday loan
Date: Thu, 03/08/2007 - 22:49
I found them really confusing. The second one and the last one say 'renewals' are not allowed, then what does it mean by '5 consecutive loans'; aren't they rollovers/renewals? Can anyone please explain it?
when will my card and loan arive in my account?
please let me know whats up? i was aproved for a loan and i didnt understand every thing she said im a little slow ,please excuse my abilities. and re cap for me please.Thank yoy and god bless
What that means is that you have to pay off the loan each time.
What that means is that you have to pay off the loan each time. You can then right away reborrow. After the fifth time you've done this you have to wait 7 days to reborrow the money.
A rollover/renewal is when you pay only the finance fee, and extend the loan until your next payday.
They are hardly different in my mind. It's a way pdl's get around the no rollover rule in some states.
One thing I've began to notice - The info on paydayloaninfo.org
One thing I've began to notice - The info on paydayloaninfo.org isn't always correct! For instance they say that you can reloan 6 times before you have to wait the 7 days. I'm looking into which is the correct law.
I've noticed that with some other states incorrect info is also posted.
Kristy, this site doesn't give loans. This is a message board f
Kristy, this site doesn't give loans. This is a message board for debt related issues.
If you know the name of the company we may be able to find the contact info for them and you can call them back.
If it's a pdl you are getting, please read through some of the threads here. They can turn into real nightmares.