Check Smart and Ace Cash
Date: Mon, 08/04/2008 - 17:24
Legalities associated with payday loans in Missouri are: - Qu
Legalities associated with payday loans in Missouri are: -
Quote:
Legal Status: Legal Citation: Mo. Rev. Stat. ???? 408.500 et seq.; 4 Mo. Code Regs. ???? 140-11.010, 140-11.020 Loan Terms: Maximum Loan Amount: $500 Loan Term: 14-31 days Maximum Finance Rate and Fees: Not Specified (No borrower shall be required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan for the entire loan term and all authorized renewals. Otherwise, interest is set pursuant to small loan law which provides that parties may set rate by contract.) Finance Charge for 14-day $100 loan: $75 apr for 14-day $100 loan: 1980% Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: Six (borrower must reduce principal amount of loan by 5% or more upon each renewal) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check. Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker) Where to Complain, Get Information: Regulator: Missouri Division of Finance Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102 Phone: (573) 751-3242 Fax: (573) 751-9192 Regulatory Contact: Joe Crider,, Supervisor, Consumer Credit |
I have a loan with Checksmart too. You can request an Extended P
I have a loan with Checksmart too. You can request an Extended Payment Plan as long as its one day before its due. They split the amount due in 4 payments and hold your check. From what people say on here, Checksmart's corporate office is not very friendly, so if you could make arrangements with the store manager, you might find them easier to deal with.
hpc just called and said they would be filing legal procedings a
hpc just called and said they would be filing legal procedings against me i wrote a check to check smart a year ago the account was then closed im in ohio can i go to jail like they say
No, you won't go to jail. I would get with them to resolve to a
No, you won't go to jail. I would get with them to resolve to avoid small claims and additional fees.
ace cash express
Hi, my mom wrote a check to someone who ended up scamming her. Before the check was cleared through her bank however, we closed the account, so she never had to pay the bank for the amount of the check. Now Ace Cash Express is coming after her to repay the money since they gave the scammer the cash. Are we liable for this money?
okay I am really not following this. Why did Ace give cash to th
okay I am really not following this. Why did Ace give cash to the scammer and tell your mom she has to repay it? If the check was between your mom and the scammer I am not understanding why ace is involved?
Oh wait a minute-are you saying ace cashed the check your mom wrote to the scammer? That may come down to your state laws but my guess would be yes. You probably need to get some legal advice on that.
The issue here involves the "status" of the check. If there was
The issue here involves the "status" of the check. If there was a Stop Payment on the check, it would go back on ACE since it is thier responsibility to to verify that. If the check was returned as an Account Closed, your mom is responsible to pay ACE for the value of the check and then go after the payee to recover the funds. ACE would be protected as a Holder In Due Course and becomes and innocent 3rd party.
ace cash express
i cannot afford to pay my loan back to ace. i did however renew my loan twice with them i tried to make payment arrangements with them and they will not comply , i did stop payment because that would have thrown my account way into the negative now hpc is calling threatening all kinds of legal action. i live in mo. is there anything i can do?