payday loans
Date: Sat, 10/25/2008 - 16:58
I live in Ky, and have 5 payday loans that now I can't pay. What can they do? Thanks! Sue
Legalities of Payday Loans in KY are: - Quote:Legal Status: Leg
Legalities of Payday Loans in KY are: -
Quote:
Legal Status: Legal (Applies to check cashers only) Citation: Kentucky Rev. Stat. Ann. ???? 286.9.010 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: 14-60 days Maximum Finance Rate and Fees: $15 per $100 Finance Charge for 14-day $100 loan: $17.65 apr for 14-day $100 loan: 459% Debt Limits: Maximum Number of Outstanding Loans at One Time: Two ($500 aggregate loans outstanding to all licensees) Rollovers Permitted: None (cannot renew, rollover, or consolidate) Cooling-off Period: None Repayment Plan: Collection Limits: Collection Fees: One NSF fee (if disclosed) Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Kentucky Office of Financial Institutions Address: 1025 Capital Center Drive, Suite 200 Frankfort KY 40601 Phone: (800) 223-2579 Fax: (502) 573-8787 Regulatory Contact: Gary Davis,, Branch Manager |
Please explain. I need info. Thank you. I am scared and dont rea
Please explain. I need info. Thank you. I am scared and dont really understand all of this. What does it mean?
To start with, could you give us some general information to wor
To start with, could you give us some general information to work with [nothing personal, please!] We'd like to have the name of the lender, amount borrowed, total amount repaid, and whether it was an internet or storefront lender, for each of your outstanding loans. That will enable us to see which of your lenders are legal, and which aren't. Once we've determined that, we can move on from there.
Hang in there. Breathe! We'll be here for you.
