What are the pay day laws in Arizona? Can they prosecute me?
Date: Fri, 08/01/2008 - 09:37
Hello gdjebnar and welcome to the community! :) First, I will b
Hello gdjebnar and welcome to the community! :) First, I will be moving this topic to the payday loan section, meanwhile, I will post your laws, but would appreciate it, if you would please list the names of these pdl's, whether they are Internet or Store front, how much you have borrowed, and how much you have paid back. Thank you. :)
[quote]Arizona State Information
Legal Status: Legal
Citation:
Ariz. Rev. Stat. ???? 6-1251 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks
[/quote]
Pay day loan nightmare
I have 5 out over the counter:
Cash 1 - 500.00
Check n Go - 500.00
Moneymart - 500.00
Speedy Cash 500.00
Ace Cash Express 500.00
All of these are charging more than the 15% face of value check as indicated AZ Pay Day Law.
2 are from the Internet..
Green Picket $500.00
Cash Net USA$ 300.00
As I said I have notified these places by e-mail and phone calls as well as I am now sending letters via certified mail. They still kept depositing my checks under different names, and different amounts and on dates not even close to my agreed withdrawals. I did not write bad checks. I asked for alternatives. The bank closed my account due to unapproved activity.
The bank probably did you a favor by closing your account, but,
The bank probably did you a favor by closing your account, but, are you in the negative because of this unauthorized activity? Have you disputed these withdrawals with the bank, because you have a right to do that. Also, did you send letters via email to these companies revoking their rights to debit your account? Did you notify the bank also? Which companies keep making withdrawals with paper checks? The store fronts can only use a paper check one time, otherwise it's actually an ACH transaction. I still need to know exactly how much you have paid toward all of these loans, and I need to know if you have defaulted on any of these? You need to contact the bank and ask to speak with the Branch Manager, ask if your account can be forced back open for any reason. As soon as you provide more info, we can plan a course of action. :)
pay day loans
HI
as many of your clients, i also havd had a terrible experience, but i have joined a PDL company that will pay the loans back , storefront a certain amount and they are refusing, but this company out of alabama tells me then they are refusing my money, . any suggenstions, i have 5 loans out around 1500,00 dollars
