Payday Loan Laws in Nevada.
Date: Wed, 08/20/2008 - 08:08
Meaning what are they considered to be Like, Promissary notes, Open Accounts, wriitten contracts and etc....?
Payday Lending is Legal and your state, but is still regulated.
Payday Lending is Legal and your state, but is still regulated.
The information is listed below
Quote:
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 |
payday loan default
The law says a borrower has to be offered a repayment plan of at least 90 days after 1st day of default. Is it Nevada law that the borrower must pay 20% down and then pay an amount for at least the following 90 days?
spouses loan
My husband took out a loan without my knowledge. Now he is in default and they want me to pay it back. Am I responsible because we are married?
If it was a store front did he write the check from a joint acco
If it was a store front did he write the check from a joint account? If so then you may be held responsable.
If it was an internet loan were the funds deposited into a joint account?, if so then you may be responsable.
If they were his own personal accounts then you may not be.
Can I be brought up on charges for a pdl? This company Check Res
Can I be brought up on charges for a pdl? This company Check Resolution Services is stating that they are charging me with intent to commit fraud with a banking institution. And alot of other stuff. They are saying they are going to try and serve me a summons. Wouldn't they just serve me, they wouldn't call me first to try and settle out of court. Would they, I mean for the state of NV?
what would happen if a person do not pay the loan back? my frien
what would happen if a person do not pay the loan back? my friend took a loan out for 2k and now she owes 20k a few years later. what can the company do to her? she try to settle with them but they wont even consider it.
If you default on a PD loan and they send it to collections can
If you default on a PD loan and they send it to collections can they bring you up on charges for writing a bad check?
no they can't.debts especially pdls are civil matters,not crimin
no they can't.debts especially pdls are civil matters,not criminal ones.anyone who threatens that isn't legit.
Quote:Originally Posted by AnonymousMy husband took out a loan w
Quote:
Originally Posted by Anonymous My husband took out a loan without my knowledge. Now he is in default and they want me to pay it back. Am I responsible because we are married? |
I used to work for a payday loan company. No, this is not your responsibility nor are they even supposed to speak to you about his information on the account. Your husband can get them in trouble and tell them he didn't want you to know anything about it. There is a privacy act where they are not allowed to do that. Hope this helps
Quote:Originally Posted by AnonymousIf you default on a PD loan
Quote:
Originally Posted by Anonymous If you default on a PD loan and they send it to collections can they bring you up on charges for writing a bad check? |
When you default on a PD loan once that check returns to them you will be charged with a $25.00 return check fee once.They are not allowed to charge you any more then that for the check itself. As far as late fees it really just depends on the company. Ask them if they will take a settlement payment of the principle amount if not try to get on a payment plan. They usually work with you.
Where do I find if payday check places are licensed in NV
Where do I find if payday check places are licensed in NV
I took out a payday loan with Lucky Cash. It went into default.
I took out a payday loan with Lucky Cash. It went into default. I agreed to pay 100 every 2 wks which I paid. Now they tell me that I only paid 1600 even though I have receipts for 3380.00. I take the receipts in once and they made copies and told me not to do anything until they contacted me. They then 2 yrs later took me to court and I CAN NOT get them to understand that I had paid the lawyer and have receipts. They won't accept some of the receipts because they are not signed and they acted like I had the receipt program the lawyer had and had printed my own receipts. The guy was out of town, didn't even look at the paperwork, and when I called him, he was extremely rude to me. What can I do?
Unauthorized withdrawl by paydaylender
Took a paydayloan, gave them a post-dated check....call them when it was due to let them know i did not have the funds available yet...they said it was still going to b posted...contacted the bank, put a stop payment on check and been waiting to figure out a re-payment plan....yesterday they took the total amount due, they presented my bank a check, their own check with my routing number and checking account from the previous check, is this legal?