PDL help in Ky

Date: Sun, 10/12/2008 - 16:34

Submitted by anonymous
on Sun, 10/12/2008 - 16:34

Posts: 202330 Credits: [Donate]

Total Replies: 3

I have two store front pdl's. One is with Check n Go and the other Check Exchange. They are both owed $500 each. The Check n Go one has already been returned NSf and the Check Exchange one will be deposited on 10/14. It will be returned also as i have placed a hard block on my account. I do not want them contacting my employer or references. Can I send them a cease and desist letter to stop that from happening? I called and talked with check n Go and was told I could not make arrangements. This was from the location I took the advance from. I called a different location and was told that I can make payments and that would have to be set up with the manager from the location I took the advance. She is not willing to do that. Should I just wait until they turn me over to their collection department or how should I handle this? I will be contacting Check exchange on Tuesday to see if they will accept payments.

Has anyone dealt with either of these companies and was able to set up payments?
Thanks for your help and answers.

Here are your laws

Kentucky State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Kentucky Rev. Stat. Ann. ???? 286.9.010 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 14-60 days
Maximum Finance Rate and Fees: $15 per $100
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: Two ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (cannot renew, rollover, or consolidate)
Cooling-off Period: None
Repayment Plan:

Collection Limits:
Collection Fees: One NSF fee (if disclosed)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Kentucky Office of Financial Institutions
Address: 1025 Capital Center Drive, Suite 200 Frankfort KY 40601
Phone: (800) 223-2579
Fax: (502) 573-8787
Regulatory Contact: Gary Davis,, Branch Manager
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources

lrhall41

Submitted by kfstaff24 on Sun, 10/12/2008 - 17:00

( Posts: 1448 | Credits: )

Hi, Unfortunately, I am also experiencing a similiar problem w

Hi,

Unfortunately, I am also experiencing a similiar problem w/ SGQ. Please advise with more information about the federal or state regulating agency to properly complain to thanks!

lrhall41

Submitted by on Thu, 09/17/2009 - 16:37

( Posts: | Credits: )

geversole - I too am in KY, but my PDL's are internet where your

geversole - I too am in KY, but my PDL's are internet where yours are store front. One thing that I've found in my research on PDL's in KY is that you can have a maximum of 2 PDL's with a combined total loan amount of $500. I think that your post indicated that you had a loan in the amount of $500 each. I'm not sure, but am wondering if this might be a negotiating tool for you with your last PDL lender? Technically they shouldn't have lended to you from what I understand? I'm sure that someone else will be along to help you soon.

lrhall41

Submitted by DeDe on Thu, 09/17/2009 - 17:32

( Posts: 70 | Credits: )