paydayloan NV
Date: Sun, 09/28/2008 - 11:52
I had a payday loan and the check was presented once and did not clear. I was contacted by phone and asked them to redeposit as it would clear. If any questions please contact me. The check was not redeposited. That was in May 2008. A week ago I was served to appear in small claim courts on this debt. I contacted the agency and went in and made a 20.00 payment in good faith and told them I would pay in full on Oct 26 and this was agreed upon. I did not receive a letter and was told they sent a letter and it was returned. I have lived at the same address for seven years. The check was for 910.00. On Sep. 26th the check went through my bank account and cleared. They are charging me 700.00 in interest and fees. This case is set on the docket for late October. Is there anything I can do?
You haven't named the payday loan company from which you borrowe
You haven't named the payday loan company from which you borrowed. I am giving you the details of payday loans laws in NV: -
Quote:
Nevada State Information Legal Status: Legal Citation: Nev. Rev. Stat. 604A.010 et seq. Loan Terms: Maximum Loan Amount: 25% of expected gross monthly income Loan Term: Max: 60 days Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %) Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period) Cooling-off Period: Repayment Plan: Yes Collection Limits: Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney's Fees; Service of process costs Criminal Action: Prohibited (Unless customer acted with criminal intent) Where to Complain, Get Information: Regulator: Nevada Financial Institutions Division Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121 Phone: (702) 486-4120 Fax: (702) 486-4563 |
