PDL help needed in Colorado
Date: Wed, 08/20/2008 - 11:01
Can anyone help me figure out pdl laws in Colorado and can I not do pdl settlement in Colorado?
Hi Christy and welcome to the community. I'm going to move this
Hi Christy and welcome to the community. I'm going to move this to the payday loan forum so more people will see it. Then I will post your laws and hopefully someone will be able to help you make out some sense of them. :)
CLICK HERE to see if any of your pdl's are licensed. Colorado St
CLICK HERE to see if any of your pdl's are licensed. Colorado State requires Internet based pdl's to be licensed in your own state to be a legal lender.
Quote:
Colorado State Information Legal Status: Legal Citation: Colo. Rev. Stat. ???? 5-3.1-101 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: Max: 40 days Maximum Finance Rate and Fees: 20%: $0-$300 + 7.5%: $301-$500 Finance Charge for 14-day $100 loan: $20 apr for 14-day $100 loan: 520% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: One (renewal) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: One $25 NSF fee; Court Costs; Reasonable Attorney's Fees not to exceed loan amount Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date) Where to Complain, Get Information: Regulator: Colorado Office of the Attorney General Address: Uniform Consumer Credit Code, 1525 Sherman St., 5th Fl. Denver CO 80203 Phone: (303) 866-4494 Fax: (303) 866-5691 Regulatory Contact: Laura Udis,, Administrator |
Defaulted payday loans in Colorado
what can be done when you have defaulted on payday loans in colorado...need help to get out from under..anyone else have this issue.