logo

Debtconsolidationcare.com - the USA consumer forum

JVC PROCESSING

Date: Thu, 04/30/2009 - 21:03

Submitted by cccarter85
on Thu, 04/30/2009 - 21:03

Posts: 3 Credits: [Donate]

Total Replies: 7


I HAVE THESE PEOPLE CALLING ME TELLING THAT THEY ARE GOING TO PUT A WARRANT OUT FOR MY ARREST IF I DON'T PAY THIS PAYDAY LOAN THAT I BORROW FROM JVC PROCESSING.......IS THIS TRUE?


Quote:

Illinois State Information

Legal Status: Legal

Citation:
Ill. Comp. Stat. Ann. ?? 122/1-1

Loan Terms:
Maximum Loan Amount: lesser of $1000 or 25% gross monthly income
Loan Term: 13-45 days
Maximum Finance Rate and Fees: $15.50 per $100
Finance Charge for 14-day $100 loan: $15.50
APR for 14-day $100 loan: 403%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 7 days after 45 consecutive loan days
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $25 NSF fee (Presentment limit = 2)
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Illinois Division of Financial Institutions
Address: Consumer Credit Section, 320 W. Washington Springfield IL 62701
Phone: (888) 298-8089
Fax:
Regulatory Contact: Phil Sanson,, Acting Consumer Credit Assistant Supervisor


So you can see that criminal action is prohibited.


lrhall41

Submitted by SOAPLADY on Thu, 04/30/2009 - 21:14

( Posts: 17315 | Credits: )


do not engage them in conversation. use your right to hang up on them. do not answer their phone calls. document each one, and send a cease and desist letter. only original creditors are allowed to continue calling you. after your debt is sold, you can stop the collectors.


lrhall41

Submitted by on Thu, 04/30/2009 - 21:48

( Posts: | Credits: )


I was wondering if JVC Funding and JVC Processing are the same company? If they are does anyone have any proof to show me.


lrhall41

Submitted by on Thu, 11/05/2009 - 21:55

( Posts: | Credits: )