Are PDL's illegal in Ohio
Date: Fri, 06/09/2006 - 06:58
See if this answers what you need. If not , let me know
Ohio State Information
Quote:
Legal Status: Legal (Applies to check cashers only) Citation: Ohio Rev. Code Ann. ???? 1315.35 et seq. Loan Terms: Maximum Loan Amount: $800 Loan Term: Max: 6 months Maximum Finance Rate and Fees: $10/$100 + 5% per month Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: None (cannot refinance) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages Criminal Action: Not Specified Where to Complain, Get Information: Regulator: Ohio Division of Financial Institutions Address: 77 South High Street, 21st Floor, Columbus, Ohio 43215 Phone: (614) 728-8400 Fax: Regulatory Contact: Robert M. Grieser, Deputy Superintendent for Consumer Finance Regulator Website Licensee Database Complaint Instructions Complaint Form Link Online Resources: Consumer Complaint Contacts (Non-Depository Institutions) Brochure: "Payday Loans" |
I deactivated a link in the above post, but it does have some us
I deactivated a link in the above post, but it does have some useful information. If anyone would like to check it out, just cut and paste it into your browser and add the http:// before it.
Just a reminder, the only active links allowed are to governmental website.
No they are not illegal in Ohio but with conversations with the
No they are not illegal in Ohio but with conversations with the Ohio Division of Financial Institutions the do require licensing and to follow the state laws.
Ok i read the thing about Pdl's in ohio, but i don't understand
Ok i read the thing about Pdl's in ohio, but i don't understand it... could someone clarify? thanks a million!
Amanda
No I didn't find licensing for Ohio. I have Ambassador, One Clic
No I didn't find licensing for Ohio. I have Ambassador, One Click Cash, PRL, SJM Marketing, Access and Magnum. All have been welling to work out paying except Ambassador who I find is Nationwide Cash. I can not get ahold of SJM Marketing (who had debited my account at least three times the amount) And I cannot locate Access nor have I heard from them. Any help would be appreciated. -- Lanita
Lanita, do you need the number of SJM Marketing? It's 1-866-722-
Lanita, do you need the number of SJM Marketing? It's 1-866-722-2770, Fax 1-866-599-5161. Take the help of your bank and request to dispute the item with SJM. They need to give out the complete details of this debit or else the excess amount must be reverted back.
Thanks for the number. I will contact them and see what I can w
Thanks for the number. I will contact them and see what I can work out. -- Lanita
You can also do a search for the Ohio Division of Financial Inst
You can also do a search for the Ohio Division of Financial Institutions and it will give you the laws regarding payday lenders in the state of Ohio, Amanda. Are you dealing with storefront lenders or ones from the internet?