ohio pdl question

Date: Wed, 11/05/2008 - 10:51

Submitted by anonymous
on Wed, 11/05/2008 - 10:51

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Total Replies: 3

With the passage of the most recent laws, does that mean that pdls will no longer be available in ohio period?

I think it means that if they want to continue to operate in Ohi

I think it means that if they want to continue to operate in Ohio, they need to abide by the new law & cap the percentage rate.

lrhall41

Submitted by dawnlango7 on Wed, 11/05/2008 - 11:12

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In all states that capped the interest rate below 36% apr,the st

In all states that capped the interest rate below 36% apr,the storefronts closed up shop. The same will happen in Ohio.Of course you can still apply for loans via the internet which are not regulated

lrhall41

Submitted by on Wed, 11/05/2008 - 11:59

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Most of the larger payday lenders are no longer offering Payday

Most of the larger payday lenders are no longer offering Payday Loans and are no longer going to be "associated" as a payday lender. They now are licensed under the Small Loan Act which means fees / interest rates are still going to be high and only slightly lower than they were. Amazing that the lawmakers didn't know about this loophole.

lrhall41

Submitted by on Thu, 11/06/2008 - 13:27

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