PDLOAN HELL
Date: Fri, 08/29/2008 - 09:56
You can close your bank account and also follow the steps as men
You can close your bank account and also follow the steps as mentioned HERE .
Hi there amubeach and welcome to the community! I have posted yo
Hi there amubeach and welcome to the community! I have posted your pdl laws. You can not go to jail for owing a debt.
[quote]New Mexico State Information
Legal Status: Legal
Citation:
N.M. Stat. Ann. ???? 58-15-32 to 38
Loan Terms:
Maximum Loan Amount: $2,500
Loan Term: 14 to 35 days, can be shorter by written agreement
Maximum Finance Rate and Fees: $15.50 per $100; $.50 verification fee per $100
Finance Charge for 14-day $100 loan: $16
apr for 14-day $100 loan: 417.14%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Total capped at 25% gross monthly income
Rollovers Permitted: None
Cooling-off Period: 10 days
Repayment Plan: Yes, equal installments over 130 day period
Collection Limits:
Collection Fees: $15 NSF fee one time per loan
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: New Mexico Financial Institutions Division
Address: 2550 Cerrillos Road, 3rd Floor P. O. Box 25101 Santa Fe NM 87505
Phone: (505)476-4885
Fax: (505) 476-4670
Regulatory Contact: Henry A. Vigil,, Consumer Industry Manager[/quote]
Don't let them scare you. They are trying to use your fear to g
Don't let them scare you. They are trying to use your fear to get more money out of you. Just remain calm. I know it is hard but you will be able to get through this. I would advise closing your account and opening another one as soon as possible. You can send them letters revoking their ACH privileges but they may try to find a way around that.