Are These Fees even LEGAL?
Date: Thu, 07/08/2010 - 10:31
nationwide 400.00 owe 520.00
Lakota 400.00 owe 520.00
Brighton 200.00 owe 285.00
Payday loans are not what they used to be. You pay it off or extend it. They are automatically extending on each payday, each time charging another finance fee but nothing is going toward the principal. So, over 4 pay periods you pay 480.00 but still owe 520.00, the 400.00 plus the 120.00 interest. After 4 pay periods they take 120.00 plus 50.00 towards the principal per paycheck.They just keep debiting. Is this legal?
What state do you live in? The amount of interest payday lender
What state do you live in? The amount of interest payday lenders are allowed to charge depends on your state.
i live in md but the lenders are in other states. thanks.
i live in md but the lenders are in other states. thanks.
Quote:Originally Posted by AnonymousI have 3 loans out: nationwi
Quote:
Originally Posted by Anonymous I have 3 loans out: nationwide 400.00 owe 520.00 Lakota 400.00 owe 520.00 Brighton 200.00 owe 285.00 Payday loans are not what they used to be. You pay it off or extend it. They are automatically extending on each payday, each time charging another finance fee but nothing is going toward the principal. So, over 4 pay periods you pay 480.00 but still owe 520.00, the 400.00 plus the 120.00 interest. After 4 pay periods they take 120.00 plus 50.00 towards the principal per paycheck.They just keep debiting. Is this legal? |
these lenders are not only illegal in MD.where pdl's are prohibited,but they illegal everywhere.please try to remember how much was debited up till now,or prior to default.you only owe the principle,and anything in fees debited you deduct from the amount owed.
Okay. All the information is so confusing! I want to find out if
Okay. All the information is so confusing! I want to find out if the loan fees I have are legal in my state. I want to go Lender by lender for the loans I have. How to to do this??
Quote:Originally Posted by Jacci DonnellOkay. All the informatio
Quote:
Originally Posted by Jacci Donnell Okay. All the information is so confusing! I want to find out if the loan fees I have are legal in my state. I want to go Lender by lender for the loans I have. How to to do this?? |
the loans are not legal.therefore no fees are legal.
what to do now?? i am sure they are not legal, but i need to pay
what to do now?? i am sure they are not legal, but i need to pay back the money i used
Quote:Originally Posted by Anonymouswhat to do now?? i am sure t
Quote:
Originally Posted by Anonymous what to do now?? i am sure they are not legal, but i need to pay back the money i used |
well first try to remember how much if anything was debited by each prior to default.deduct that from the loan.go to the sticky titled DEALING WITH ILLEGAL LENDERS at the top of this forum.it will guide you.btw yes if anything is owed we do advocate paying back what was borrowed.
i am new to this forum, what is a sticky and how do i locate the
i am new to this forum, what is a sticky and how do i locate the one mentioned??
Quote:Originally Posted by Anonymousi am new to this forum, what
Quote:
Originally Posted by Anonymous i am new to this forum, what is a sticky and how do i locate the one mentioned?? |
click the paydayloan help at the top of this thread.it will show the sticky's at the top.you should find the one i mean.
can someone just tell me if these loans are legit? I mean the fe
can someone just tell me if these loans are legit? I mean the fees? I live in Maryland.
brighton FNL (yeah, they got me) $200.00=$289.00
National-PayDay Loan $400=$520.00
Lakota Cash $400=$520.00
Thanks
Quote:Originally Posted by Anonymouscan someone just tell me if
Quote:
Originally Posted by Anonymous can someone just tell me if these loans are legit? I mean the fees? I live in Maryland. brighton FNL (yeah, they got me) $200.00=$289.00 National-PayDay Loan $400=$520.00 Lakota Cash $400=$520.00 Thanks |
No they aren't, payday loans are prohibited in your state, see the link below:
http://www.paydayloaninfo.org/stateinfo/MD.asp
CLICK HERE to find out how to deal with illegal lenders.
I now have everything I need to know. This company sold my info
I now have everything I need to know. This company sold my info to another that took money frommy account. they are automatically renerwing and racking up fees. i am going to write them that i intend to send a money order and revoke their auth to debit.