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AZ laws on payday loans - revised

Date: Fri, 09/07/2007 - 14:41

Submitted by alittletreefrog
on Fri, 09/07/2007 - 14:41

Posts: 15 Credits: [Donate]

Total Replies: 12


I ran across this info and I would like if someone can put it in more layman terms. I think I understand it but would like another opinion.

I think it could be very helpful to Arizonians.



Looks to me like they are specifically saying that internet and phone based companies must comply with AZ laws!

It also says any binding arbitration clause is not valid if the contract isn't fair.

They say that the ipdl CANNOT state in their contract that you agree to follow the laws of another state.

This is great stuff!!!!

The rest of it looks like it only applies to military people . . . ..


lrhall41

Submitted by goudah2424 on Fri, 09/07/2007 - 14:50

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Actually this is the new bill that was just re-drafted by a couple of legislator's in Arizona. It is coming up on a vote fairly quickly but please understand that the last bill regarding payday loan companies did not make it off the floor. This bill was redrafted and seems more promising to pass the house and possibly the senate before it is enacted. However, the Arizona law currently is pretty strong but I have to advise you that the AG's office in Arizona is very slow to respond and in many instances sends Arizonans who are involed in internet payday loans to the state in which the company is physically located. However, the DFI of Arizona is much more proactive and will work with individuals and does get results from their inquiries.


lrhall41

Submitted by ctraslavina on Fri, 09/07/2007 - 18:41

( Posts: 52 | Credits: )


i just got a call from a collector talking about a pdl from january 05 an i said i dont remember ever takeing out a pdl then he asked if i had a job and i told him im not working right now an he said that i was refuseing to pay and a lawyer would be contacting me sometime in the near future. what are the legal actions that they are allowed to take? its an arizona based company


lrhall41

Submitted by on Mon, 03/22/2010 - 20:12

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