PDL NIGHTMARE
Date: Fri, 08/29/2008 - 13:34
HI, I really hope some one can help me. I have serveral PDL out there. Big, Global Financial, ezpayday cash, and cashnminutes. I simply can not pay for these anymore. I have been paying on them and can not seem to catch a break. I went this morning and closed my account and opened a new one. The bank assured me nothing could be taken out of the new account. Cashnminutes had a so called investigator call me saying that if i did not pay $750 by 09-06 then a process server would serve me at work and i would have to go to court in tx/ I live in new mexico. I also saw online the pdl assistance program, kinda like debt consalidation i think, but it cost $200 to join there program. Can some one please help me? what will these people do? what i am required to do? HELP
Here is the state laws for New Mexico. Quote:New Mexico Stat
Here is the state laws for New Mexico.
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 Regulator Website |
How much have you paid to each PDL so far, it's possible that you may have been overcharged on some of them.
