When do i need to close my checking account?
Date: Thu, 11/15/2007 - 16:07
is CRS dealing with your PDLs? What are the names of the comp
is CRS dealing with your PDLs?
What are the names of the companies you got loans from, which from that list are storefront or internet, how much did you borrow from each and how much have you paid them total for it?
pay day loan help
checkngo,quick cash,cash depot,cash advantage,check into cash,advance america,america's cash advance,these are all store front,internet one's our paper check loan's,quick pay day loan
You have a lot of Storefront. So is your debt relief is taking
You have a lot of Storefront. So is your debt relief is taking care of them? They are usually all totally legal and you will need to work out something with them, especially if you are closing your bank account. Worry about the internet ones later, right now you need to work out something with the storefronts....
I don't have much knowledge about storefronts, so hopefully someone with that experience can chime in soon...
pay day loan help
yes most have accepted the payment arrangement's with them,and i have made some arrangements with the other's that didn't accept
r
You will find the Payday loan laws for Missouri here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Emails to and from the DFI:
[quote]Sent: Friday, October 19, 2007 4:15 PM
To: Crider, Joe
Subject: Payday Loan Question
Hi Joe,
I'm trying to find an answer to a question regarding internet based payday loan companies. Do internet based payday loan companies need to be licensed by MO to lend legally in MO? Or can they be licensed in their home state as long as they don't have a physical location in MO? I have several payday loans and they are all licensed in other states. They say they don't need a MO license, or to follow the laws of MO. Is that correct?
Thank you!
Reply:
From: Crider, Joe
Sent: Tuesday, October 30, 2007 9:35 AM
To:
Subject: RE: Payday Loan Question
Ms ,
Our interpretation of the law is that these lenders do need to follow the laws of our state. We are introducing legislation in the upcoming session that would be more specific about this requirement. To that end, we have dozens of internet lenders from other states licensed at this point in time.
If you would provide me with the web sites or contact information for these lenders I will advise them of our position in a letter.
Joe Crider
Supervisor of Consumer Credit
State of Missouri
What does this mean?
Internet based companies do need an MO license.
New laws may be coming soon.
Fees and interest can not be more then 75% of total loan amount.
6 rollovers are allowed.
No criminal prosecution for closing your bank account. [/quote]
r
kev, are you aware that some of your storefronts may be members of the CFSA? If they are members, you may be able to invoke the EPP (extended payment plan). In order to invoke the EPP, you must go into the storefront BEFORE the due date of the loan. The EPP allows you to make 4 equal payments coinciding with your paydates to pay the loan off. If your storefronts have already made payment arrangments with you, that's great! Your internet loans will need to be licensed in Missouri to be considered "legal".
Did they close it because over overdrafts? I do not want you to
Did they close it because over overdrafts? I do not want you to be reported to chex system.
If you are reported to chex it will be hard to open a new accoun
If you are reported to chex it will be hard to open a new account. You stay on chex for 5 years.
Yes we can. I forgot about that list. It just makes it so damn h
Yes we can. I forgot about that list. It just makes it so damn hard.
Kev, If you look on the banking forum , there is the list of ban
Kev, If you look on the banking forum , there is the list of banks for your state.