pay day loans
Date: Wed, 11/12/2008 - 13:46
Hello, I need help with pay day loans and I am not sure how to interpret the laws and find out if these companies are licensed here in Ohio. I have one payday loan out with Check into Cash for $287.00 it was done on the internet. I defaulted on it and I called to try to make payment arrangments--they are not willing to work with me, they are attempting a third debit to my bank account that will be denied. I am sending them a certified letter to revoke ACH authorizations, phone calls and mail (other thn e-mail) --I have another loan with Impact Solution Online that was returned however they ARE working with me in splitting my payments up into 3 payments. Should I just start sending payments to CIC at their address listed in Cleveland, TN and can they charge me more fees other than the $22.50 for the return charge? thanks!
I think Check in Cash is licensed in Ohio. So, you have to follo
I think Check in Cash is licensed in Ohio. So, you have to follow the payday loan laws of your state, Ohio: -
Quote:
Legal Status: Legal (Applies to check cashers only) Citation: Ohio Rev. Code Ann. ???????? 1315.35 et seq. Loan Terms: Maximum Loan Amount: $800 Loan Term: Max: 6 months Maximum Finance Rate and Fees: $10/$100 + 5% per month Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: None (cannot refinance) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages Criminal Action: Not Specified Where to Complain, Get Information: Regulator: Ohio Division of Financial Institutions Address: 77 South High Street, 21st Floor Columbus OH 43215 Phone: (614) 728-8400 Fax: Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance |
am not sure how to interpret the laws poster said they could
am not sure how to interpret the laws
poster said they could not interpret the laws. can yu please explain
