Payday loan laws - let’s dig up beyond the crust
Date: Wed, 05/10/2006 - 22:25
The sections of UCC seem to be confusing sometimes. I'm sure general people often get perplexed. Why don't we contact some high-ranking persons and interview them? This will empower the community with the ability to understand what is correct and where to find the right information.
Need your suggestion.
That's a good idea. What are the questions to be asked? Any thou
That's a good idea. What are the questions to be asked? Any thoughts?
Rhonda, I have set 5 questions that can be asked. Here is the li
Rhonda, I have set 5 questions that can be asked. Here is the list-
1. Should online payday loan companies need to follow the licensing process of state to do business there?
2. Is it legal for them to do business using alias?
3. What is the maximum rate of interest they can charge?
4. If a person borrows from a lender who is not licensed in the state at all, is the person legally bound to pay the money back?
5. Where can one find if an online payday loan company is licensed in the state or not?
If you have any more questions in your mind, please post here.
I have a question for them. Why do they feel they need to threa
I have a question for them. Why do they feel they need to threaten and harass?
Because they think you're stupid! This is what i was told by my
Because they think you're stupid! This is what i was told by my former manager when I worked at Protocol. That payday loan borrowers are uneducated hustlers who probably don't work steadily and are completely uninterested in their credit. That is why the feeling to need to threaten and harass, they think you're the lowest of the low!
That's a good suggestion Stella. Contacting influential people w
That's a good suggestion Stella. Contacting influential people will help community members understand the proper set of customs that should be followed by online payday loan companies.
I think that getting these high profile individuals to agree to an interview should be an organized process. Here is my suggestion: Why don't I as the admin of debt consolidation Care contact them on behalf of the community members and ask them if they are interested in an email interview?
Now, this is an ongoing process and time consuming too. I will definitely keep you updated on what is going on and will publish the response received from them in my blog.
As always, I need your active participation and support in this endeavor. If you come across any such question the answer of which is still unknown, you can post it here along with the state you are from. We will try to include it in the questionnaire to be asked in the interview.
Regards
Vikas
Vikas, I think that's a great idea and I really like Stella's qu
Vikas, I think that's a great idea and I really like Stella's questions. We are all getting wiser in the mistakes that we've made getting pdl's and any more information we can get will just enable us to help each other even more than we already have.