6 PDL's and I'm behind on all
Date: Thu, 09/21/2006 - 13:11
Quote:Alabama State Information Legal Status: Legal Citati
Quote:
Alabama State Information Legal Status: Legal Citation: Ala. Code ???? 5-18A-1 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: 10-31 days Maximum Finance Rate and Fees: 17.50%; 3%/month after default Finance Charge for 14-day $100 loan: $17.50 apr for 14-day $100 loan: 456.25% Debt Limits: Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500) Rollovers Permitted: One (rollover) Cooling-off Period: Next business day after 2 continuous loans repaid Repayment Plan: Yes Collection Limits: Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check Criminal Action: Prohibited (Unless check returned due to closed account) Where to Complain, Get Information: Regulator: Alabama Banking Department Address: P.O. Box 4600 Montgomery, AL 36103 Phone: (334) 242-3452 Fax: (334) 353-5961 Regulatory Contact: Arlene Baldwin, , Consumer Services , Bureau of Loans http://www.bank.state.al.us/ |
Pay day loans
Any suggestions on what I should do. I'm only current on two of them. I want to be out from under all of them and never get another one. I didn't realize how bad they are.
First make sure that the internet lenders are licensed in your s
First make sure that the internet lenders are licensed in your state. A legitimate business can only add the charges allowed by your state laws. Most of the unlicensed companies charge excessive interests and fees. If your account is also full of such charges, you can get an idea about them not licensed in your state. If this happens, file your complaints with the local AG's office and the Dept. of Finance.
Ask the lenders to send you the statements of your loan accounts so that you know the latest status and figure out how much you need to pay more. If you have paid more than the allowed charges, insist on getting your account marked as 'paid in full'. Sample letters are everywhere in this forum. Pick one of them and edit it as per your requirements.
Thank you so much for the info. I am new to this site. Where wou
Thank you so much for the info. I am new to this site. Where would I find a sample letter? I have no idea what I'm looking for.
kirasienna13, try this link http://pollyandsay.yesdebtfree.or
kirasienna13, try this link
http://pollyandsay.yesdebtfree.org/template-letter/
Besides, you should also get some help in the letters section.
http://www.debtconsolidationcare.com/letters/
Type the name of the loan company you are dealing with in the google search box at the top. You will get some posts being discussed about them.
You are welcome :) Keep in touch. We will help you in resolving
You are welcome :) Keep in touch. We will help you in resolving your problems.