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PDL Help in Ohio

Date: Fri, 01/23/2009 - 12:17

Submitted by anonymous
on Fri, 01/23/2009 - 12:17

Posts: 202330 Credits: [Donate]

Total Replies: 4


Hello,

I live in Ohio.

Here is my payday loan information.

Eastside Lending 390.00 -300.00- Pd 180.00 fees
Upfront Payday 650.00 - 500.00- Pd 300.00 fees
The Vip Loan shop 390.00 -45.00 -Pd 135.00 fees

After reading the posts I see that some of the internet pdls are not legal in Ohio -- or at least they can not roll over fees. So if I understand correctly I can file a complaint once I pay at least the principal amount on these loans? I do have some storefront loans (around 1500.00)as well and am working on paying these down.

Thank you for any help with this matter!!


Then they are all illegal. The new law prohibits internet loans.

Quote:

Eastside Lending 390.00 -300.00- Pd 180.00 fees
Upfront Payday 650.00 - 500.00- Pd 300.00 fees
The Vip Loan shop 390.00 -45.00 -Pd 135.00 fees


I am kind of confused here.

For Eastside did you borrow $300, Payback was $390 which you have not paid but paid $180 in fees to roll it over?

For Upfront was the loan for $500, payback was $650 which you have not paid but paid $300 in fees to roll it over?

For Vip what was the original loan for? I am confused on that one.

In any case you only owe the principle on these loans. Fees are part of that principle.

So in the case of Eastside. If you borrowed $300 and paid back $180 in fees then you only owe them $120.

You can send them a letter stating they are illegal and you are only obligated to pay the principal.

I do not have the new Ohio laws. I have been searching for them but I don't think they have been published yet. I suppose you could quote the house bill that passed.


lrhall41

Submitted by nohiogal on Sat, 01/24/2009 - 04:14

( Posts: 2582 | Credits: )