logo

Debtconsolidationcare.com - the USA consumer forum

Big Question????

Date: Fri, 04/07/2006 - 13:00

Submitted by franklinfamily03
on Fri, 04/07/2006 - 13:00

Posts: 37 Credits: [Donate]

Total Replies: 3


I found this on a website

Quote:

(q) A licensee shall not renew or otherwise consolidate a deferred presentment transaction with the proceeds of another deferred presentment transaction made by the same licensee. A transaction entered into in violation of this subsection is void and unenforceable in law or equity.




Does this mean that if you write a check and use the money you got from that check to pay for another check at the same place that the checks are void? Please help!!!


This site is great :) I was reading more through the payday loan laws in my state and it seems there has been another violation by one of my lenders, out of state. Not only are they not licensed here, I have several loans with them which is not allowed in my state, now to read their state laws more clearly :o


lrhall41

Submitted by Cow & Chicken on Sat, 04/08/2006 - 06:26

( Posts: 3571 | Credits: )