Missouri PDL law ?'s...help!!!!
Date: Fri, 04/28/2006 - 16:26
Hi everyone, I am just trying to understand what I am reading about the MO pdl laws. pollyandsay has helped me & I have done a little research on my own. I just want to know if I am understanding this correctly ok? So here goes...
Missouri loans
* Licenses granted in 2004: 1,198
* Rate: Loan and renewals not allowed to earn more interest than 75 percent of original principal
* Maximum loan: $500
* Rollovers: Limited to six
* Average number of rollovers: 2.2
So, I have a pdl for $500 does that mean i should not be paying more than $375 in fees for that 1 loan?
Thks everyone you all are wonderful.
Missouri loans
* Licenses granted in 2004: 1,198
* Rate: Loan and renewals not allowed to earn more interest than 75 percent of original principal
* Maximum loan: $500
* Rollovers: Limited to six
* Average number of rollovers: 2.2
So, I have a pdl for $500 does that mean i should not be paying more than $375 in fees for that 1 loan?
Thks everyone you all are wonderful.
The pdf file attached below states the permissible amount and in
The pdf file attached below states the permissible amount and interest charges in the different states of US.
http://legis.wisconsin.gov/LRB/pubs/wb/04wb9.pdf
Bookmark this valuable link and know the payday loan regulation in your state.
lgall, you have understood it correctly. Does the PDL company say something different? Send them this link if they contradict.
John, I am just now trying to get all of this stuff figured out
John, I am just now trying to get all of this stuff figured out & wanted to make sure I understood it correctly before adding up my totals.
Ok. Bookmark this page for your help. There are some payday loan
Ok. Bookmark this page for your help. There are some payday loan companies that can't be forecasted. You can save this link for your use.