Legal pdl help needed

Date: Sun, 10/26/2008 - 14:59

Submitted by tammysteddies
on Sun, 10/26/2008 - 14:59

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Total Replies: 7

Hi! I just joined this forum but have been reading post of awhile. I live in pa and from what I can tell...my pdls are from legal lenders (cashspot, payday one). My loans are current and coming due Friday. The first was $400 but is down to $280. The second started at $300 and is now at $900. That is the principals, not all the interest and fee's etc. My question is since these are legal, how do I get them under control. I really hate to mess with our bank account but I am thinking that is my only choice. Also, how do I keep these companies from harrassing me at work. I work for the county government and they won't put up with constant phone calls. Thanks in advance for any advice.

Payday loan laws in PA: - Quote:Pennsylvania State Information

Payday loan laws in PA: -
Quote:

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

You have to follow the laws of your state while paying off those pdls. Quote:

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year