legal lenders in tenn
Date: Mon, 07/08/2013 - 10:14
Tennessee Payday Loan Laws:
Tennessee Payday Loan Laws:
State Legal Status
Lending of payday loan is legal in the State of Tennessee. and Licensing Requirements:
Online lenders can be licensed in any state. Lenders would need to follow the laws of the state they are licensed out of, not the laws of Tennessee, so there is no limit to the maximum loan or finance charge.
Loan Specifications
Maximun Amount of Loan - $500
Term of Loan - Maximum 31 days
Maximum Rate of Finance and Fees- $30 or 15% of the check (whichever is lesser)
Finance Charge on $100 loan for a 14 day period - $17.65
APR for $100 loan for a 14 day period - 459%
Debt Limits
Maximum Number of outstanding loans permitted at a time - Three (Two per licensee)
Permissible number of Rollovers - None (cannot be renewed or consolidated otherwise)
Limits of Collection
Collection Fees - 1 NSF fee of $30; Costs of Court
Criminal Action - Prohibited
File your Complaint and get Information
Regulator - Tennessee Department of Financial Institutions
Address - 511 Union Street, Suite 400 Nashville TN 37219
Phone - (615) 741-2236
Who are you loans with? how much borrowed and how much repaid to date? We can see if they are violating in the state they are in?
List out your loans, how much
List out your loans, how much you borrowed and how much you have paid back.
Without much information it’s
Without much information it’s difficult to say anything. Please tell us what is the name of the pdl company? How much did you borrow from them?