PDL Debt

Date: Sun, 11/23/2008 - 09:15

Submitted by lboyer2001
on Sun, 11/23/2008 - 09:15

Posts: 6 Credits: [Donate]

Total Replies: 2

I currently have 4 pdls.
All are online:
United Cash loans $300/pd $90 9r (renewal fee)
Payday loan center: $300/pd $90 (due 12/5)
Integrity Advance: $260/pd $880 on $400 loan-pymt of $110 due 11/28
Does anybody know if these lenders are legal/illegal in Maryland?
Also, would Integrity consider this loan pif since I've already repaid what I owe (twice). I have consulted pdl assistance, but am unsure what to do in the meantime while I wait for them to set up my account. I don't know what to do about United Cash and pdl loan ctr's payments that are due on 12/5

I am moving this to the payday loan help section so more people

I am moving this to the payday loan help section so more people will see it. Please keep checking back. :)

lrhall41

Submitted by Shazzers on Sun, 11/23/2008 - 09:22

( Posts: 17344 | Credits: )

None are legal in MD as pdl's are prohibited unless these lender

None are legal in MD as pdl's are prohibited unless these lenders are licensed as CSO's ((Credit Service Organizations), CSO's do not need to be licensed, and are generally 100% legal in what they charge.
The laws below only apply to payday lenders and NOT CSO's.
Quote:

Maryland State Information

Legal Status: Prohibited

Citation:
Consumer loan act applies. Md. Code Ann. Com. Law II ???? 12-301 et seq.

Small Loan Rate Cap
2.75% per month; 33% per year.

Where to Complain, Get Information:
Regulator: Maryland Commissioner of Financial Regulation
Address: 500 North Calvert Street Suite 402 Baltimore MD 21202
Phone: (410) 230-6100
Fax: (410) 333-3866
Regulatory Contact: Michael Jackson Director, Regulatory Policy
Regulator????????s Website
Complaint Form

lrhall41

Submitted by Shazzers on Sun, 11/23/2008 - 09:27

( Posts: 17344 | Credits: )