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Just a thought....

Date: Sun, 05/14/2006 - 00:03

Submitted by franklinfamily03
on Sun, 05/14/2006 - 00:03

Posts: 37 Credits: [Donate]

Total Replies: 6


According to Preferred Payday it is against the law to hold a two checks from the same checking account, even under two different people's names. (Ex.. a joint account)

So does that mean the every other place me and my husband each have an account with are breaking the law or is it just a company policy thing that she claims is a law?

Just a side note, things seem to be shaping up with T&C, although we were threatened with a law suit in civil court by two PDL's, one of which had already accepted the deal with T&C when they sent the letter. Don't know what is up with that, but T&C said to not worry about it so no worries here anymore.


it depends on your state law, for instance in my state, Illinois, the law does allow two loans on the same checking accoucnks if they are to different people (me and my wife easch have a loan for example). I picked up up a quick reference guide to consumers rights and responsibilities for short term loans which I will summarize and ost soon for the communities benifit.

It is interesting to note that many store front lenders in Illinois have now stopped making "Payday" advances and now make only short term consumer installment loans. This I figure is because they can charge a higher interest rate and there are fewer consumer protections.


lrhall41

Submitted by LCW on Sun, 05/14/2006 - 12:14

( Posts: 1151 | Credits: )


Ok I am also in PDL hell. Can someone please give me some information and where to contact T&C. I keep seeing the name in alot of peoples comments and would like to go to them for help. Thanks.


lrhall41

Submitted by on Mon, 08/07/2006 - 08:50

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