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Help with PDL's questions

Date: Tue, 09/30/2008 - 20:30

Submitted by anonymous
on Tue, 09/30/2008 - 20:30

Posts: 202330 Credits: [Donate]

Total Replies: 4


I live in florida, have 6 payday loans, Arrowhead Inv, B.I.G., E-Payday or EME, MYquickloan,Paycheck today, PayDayone, I have been paying on them for about 4 months, I am going under slowly. I cant seem to get caught up. I am thinking of closing my bank acct and trying to make payment arrangements? Maybe making a one time monthly payment ot pay off within the next couple weeks. Can anyone guide me as what to do first since once I close my acct they will be angry? I could use any advice and any fax numbers and addresses for any of them.
Thank you for any help
Joni


Hello, I am not familiar with FL laws nor those companies (someone will be around to help, I promise). There is a sticky up top about closing your bank account, that could help you with that. You could also put a debit-only status block on your account. Dealing with my bank gave me the most problems personally. It'll be okay, this board has the best payday advice on the internet. Until someone comes along, perhaps you search here for those companies to get their info? The BBB also has addresses and phone numbers listed for many, many payday companies (due to the numerous complaints, i'm sure!)


lrhall41

Submitted by bea2ls on Wed, 10/01/2008 - 09:47

( Posts: 3840 | Credits: )


I stopped my bank account today, they were very nice and helpful. now I am going to email and send hard copy of my ach revoke. ...but am still kinda worried and nervouse. Although I have paid them all plenty of money for weeks so they got a lot of money. Below are the exact loans I have does anyone know if they are legal or not? I am having a hard time finding addresses I live in Florida and am just learning little by little from reading this site.
PayCheckToday
E-Payday
B.I.G. (they wont even give me address or fax)
Arrowhead Investments
MyQuikLoan
Paydayone
these are all internet pdls
I do know that florida is not CSO and I believe that a payday loans is not suppose to be extended in Florida, I had one and the very next week they took full amount as they claim Florida became a non CSO state or something like that.
I could use any advice or moral support as I am just getting nervous and a wreck about stopping all payments.
Thank you for any advice
Joni


lrhall41

Submitted by on Wed, 10/01/2008 - 15:52

( Posts: | Credits: )


Here are the laws for FL
Florida State Information

Legal Status: Legal

Citation:
Fl. Stat. Ann. ???? 560.401 et seq.; Rule 69V-560.901-912

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
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 rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes

Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Florida Office of Financial Regulation
Address: Division of Securities and Finance, 200 E. Gaines Street Tallahassee FL 32399
Phone: (850) 410-9805
Fax: (850) 410-9748
http://www.flofr.com/


lrhall41

Submitted by wssu92 on Wed, 10/01/2008 - 16:08

( Posts: 510 | Credits: )