A quick question about laws on PDL and how many

This is your state law:

Ohio State Information here http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html


It looks as though it is illegal for him to have more than 1 pdl. I am not sure what kind of trouble he can get into. I will let other members answer that one.

ladybug

I think that law might apply to giving them. In Oregon there was a limit to how much total could be borrowed to how much a person makes and I was told that the more than one loan violated that. But it seemed more of a PDLs bad and not mine.

They are supposed to ask if you have any others before they give them to you. Since he didn't know, and I'm sure many people don't I can't see them getting into trouble. But a PDL who gives you one and doesn't check if you have any others, or just doesn't care, then they are in trouble for lending to you.

Or I hope that is how it works....

No, you're correct. This persons husband didn't do anything "illegal". The maximum amount of loans at one given time is one. However, how do you think so many people here have 4,5,6 storefronts? The store front is supposed to check to see if you have any outstanding pdl's anywhere else. The store fronts usually just say "Do you have any other loans out?" Of course, you're going to say "no" because you need the money. So, people end up with numerous pdl's at store fronts. In my opinion, I agree with that it's the store fronts "bad", not yours. But actually, you're lying when you say "no" to any other oustanding loans. Whoops. Now, let's count up how many people have done this though! LOL! You're just getting yourself into a deeper cycle of paying back and re-writing and they cycle never ends. But, back to the question, in this person's state, they should only have one pdl at a time. But are they going to haul him off to jail for having more than one store front pdl out? Doubtful. Or a lot of us here wouldn't be on the computer right now.

When I was in Idaho, I had two storefronts. When they asked me if I had any others, I actually wrote yes, and for how much. But it didn't seem to be a big deal, that or they didn't even read it. I'm not sure what the Idaho rules are anyway, but I guess there wasn't a limit. Of course their rates weren't as bad as these IPDLs can get!

Shoot, at least you wrote it down! Their fault, not yours! They don't care. They just want your money! Around here they just say "Any other loans out?" You say "no". They hand you money. They don't give a crap. They just want you caught in the never ending cycle of re-writing and paying that damn fee every two weeks!

Exactly, all they want is to make money, rules or no rules. They know how much they are making off of you, and they don't care what kind of trouble it gets you into!