i have 5 payday loans stressing me out help please
Date: Mon, 05/28/2007 - 19:32
PAYDAYOK--500
CASHNETUSA--600
500FASTCASH--250
APPLEPAYDAY--300
LOANPOINTUSA--100
loans
Payday loans are Prohibited in the state of PA. There is some loop-hole that allows them to creep in there. However they still must follow the interest laws for PA. Please file complaints with the Attorney Generals office consumer division. Close that bank account and only pay them what you legally owe them. KYSIDE38
I am from pa also and was once in your shoes, I have some inform
I am from pa also and was once in your shoes, I have some information that would be useful to you on my blog. address is in my signature block. Please feel free to use anything on my page. If you have any questions, please feel free to contact me either through forum or on page. goodluck.
thank you i am closeing my bank acct today.and contacting all of
thank you i am closeing my bank acct today.and contacting all of them by mail and by phone .to no t call me at work.and to contact me by mail or home phone only.anything else i should do.
In trying to nail down PA's laws I contacted the banking dept.
In trying to nail down PA's laws I contacted the banking dept. Here's what they said about the payday loan laws . . . . .
Emails to and from PA Banking Dept
Quote:
Hello, I have a question about payday loans in Pennsylvania. Does the small loan rate cap of $9.50 per $100 per year discount or 24% per year apply to these loans? I took out a few on the internet and am trying to figure out how much I legally need to pay. For instance on a $200 loan would I be legally responsible for paying back only $248? Thanks! Reply Dear Ms.: The 9.5 discount and the 24 % simple interest refer to calculations that can be used by companies that are operating in Pennsylvania and are licensed under Pennsylvania????????s Consumer Discount Company Act. With a number of exceptions, a lender that is located inside of Pennsylvania and who does not have any special lending authority (i.e., a special license or charter) who is making smaller loans not secured by real estate can only charge interest at a rate of 6% simple. A lender that does not have a physical presence in Pennsylvania but who has lending authority from some other state can generally charge the interest rate and finance charges allowed by that other state. The Department may or may not be reviewing this policy and I would not count on this e-mail as an interpretive opinion before starting any lending or business operations. James Keiser | Administrator Non-Depository Institutions 17 North Second Street, 13th Floor | Hbg PA 17101 Phone: 717.783.8242 | Fax: 717.787.8773 jkeiser(at)state.pa.us | www.banking.state.pa.us |
hi i just got off the phone with a consalidation company all on
hi i just got off the phone with a consalidation company all on them they are going to help me with them. thanks for all the help so far.i feel so much better already.less stress.thanks again
Good! Sometimes it's so much less stressful to have someone els
Good! Sometimes it's so much less stressful to have someone else deal with these companies! I hope it all works out smoothly for you!
Keep us updated on your progress!
loan
Newbie, I would pay only what my state allows in interest charges. These internet companies are not going to fight you. They are so many that are not licensed in any state. Also PLEASE contact your Attorney General Consumer Division ASAP they cannot work on these issues without complaints. Best Wishes KYSIDE38
hi i faxed copies of all letters i even wrote on my self revokin
hi i faxed copies of all letters i even wrote on my self revoking there right to call me at work and any refrances. if they do itold themi will not hesatate to call the attorney general with out hestation. so we will see what happens the company i am working with to help me is great help.and thank you all for youe help i will be keeping you all updated.
thanks again christine
sorry for the typos my 2 year old is on my lap
loan
Christine, PLEASE file those complaints with the Attorney Generals office. In my state of WV the AG office has already closed down over 18 internet companies and have got refunds for the consumers and debt cancelled. Attorney Generals know the state laws and they can help. It is not an embarrasment nobody knows but you and them. Take Care KYSIDE38
Please follow Kyside's advice. Don't threaten to call the attor
Please follow Kyside's advice. Don't threaten to call the attorney general's office DO IT! The only way that these scumbags will be stopped is if complaints are filed against them and they are shut down. When you file the complaint on line do it against each pdl company and then cc the pdl so that they can see that you have filed the complaint.
i am calling them tomorrow .sorry i should of put that in my pos
i am calling them tomorrow .sorry i should of put that in my post.i was just told to tell them that in my letters,also i am asking them the AG if i can get over payment back from pervice loans i had with them.
hi,i called to AG office and got a lady haveing a bad day i gues
hi,i called to AG office and got a lady haveing a bad day i guess she was no help. so when i file on line do i need to file one company at a time or can i do then all in one letter..also if i had past loans which i am still looking into to try to use as my defence about over paying them.to help pay off the other loans that i had with the same comapny.if that made any since at all.
christine