Info for Nevada law on internet payday loans?
Date: Sun, 11/23/2008 - 14:31
I have several internet payday loans. The interest is all that I am paying. Does anyone have anything regarding the laws in Nevada for internet payday loans. I have tried searching the web for the information:
Rapid Cash: $400 loan amount/$466.25 bal
Cash in a Wink: $400/owe $70
Nationwide: $400/$540
Cashnet: $400/$240
Centurion: $200/$260
Arrowhead: $300/$390
Crownlending: $200/260
I have store fronts but will make arrangements on this. Any suggestions? Should I file bankruptcy? I am really overwhelmed.
Rapid Cash: $400 loan amount/$466.25 bal
Cash in a Wink: $400/owe $70
Nationwide: $400/$540
Cashnet: $400/$240
Centurion: $200/$260
Arrowhead: $300/$390
Crownlending: $200/260
I have store fronts but will make arrangements on this. Any suggestions? Should I file bankruptcy? I am really overwhelmed.
Nevada requires Internet based pdl's to be licensed by your stat
Nevada requires Internet based pdl's to be licensed by your state.
Quote:
Nevada State Information Legal Status: Legal Citation: Nev. Rev. Stat. 604A.010 et seq. Loan Terms: Maximum Loan Amount: 25% of expected gross monthly income Loan Term: Max: 60 days Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %) Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period) Cooling-off Period: Repayment Plan: Yes Collection Limits: Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney's Fees; Service of process costs Criminal Action: Prohibited (Unless customer acted with criminal intent) Where to Complain, Get Information: Regulator: Nevada Financial Institutions Division Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121 Phone: (702) 486-4120 Fax: (702) 486-4563 Regulatory Contact: , Supervisory Examiner |
