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Submitted by on Mon, 08/18/2008 - 13:28
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okay I have loan and I closed my account so they would stop takig $74 out overy payday. I have been paying then $74 a payday since March..so roughly I have paid at least $740 on a $200 loan. I have closed my account, should I give my new checking information and continue to pay, or just settle with 247advances when they contact me for non payment? or from what I have read have i paid my loan back and no longer owe anything?


Yes, please come back and copy and paste, here are the laws, it says their is a limit to what they can charge you in fees


Legal Status: Legal

Citation:
Ariz. Rev. Stat. ???? 6-1251 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks


Submitted by danilewis82 on Tue, 08/19/2008 - 06:37

danilewis82

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