SpotLoan-Legal in Florida?
Date: Sat, 11/10/2012 - 00:16
Hi everyone,
I like most people found myself between a rock and a hard place and got a loan through Spot Loan. I was wondering if it was even legal for them to lend in Florida? Here are the terms:
Itemization of Amount Financed:
(a) Amount given to you directly:$500.00
Amount financed (a) + (b) = $500.00
Interest Rate (until loan paid in full) 330%
Interest: $749.16
Total You Pay: $1,249.16
I wasn't able to find a license on the Florida Office of Financial Regulation's website, THANK YOU!!
I like most people found myself between a rock and a hard place and got a loan through Spot Loan. I was wondering if it was even legal for them to lend in Florida? Here are the terms:
Itemization of Amount Financed:
(a) Amount given to you directly:$500.00
Amount financed (a) + (b) = $500.00
Interest Rate (until loan paid in full) 330%
Interest: $749.16
Total You Pay: $1,249.16
I wasn't able to find a license on the Florida Office of Financial Regulation's website, THANK YOU!!
No license, illegal. Click on Forums, then click on payday loan
No license, illegal. Click on Forums, then click on payday loan help, then click on sticky on how to deal with unlicensed lenders. Follow every step. You are only morally responsible for paying back the original principal amount borrowed, no fees;/interest
