storefront pdl
Date: Mon, 10/13/2008 - 19:48
Quote:I live in ohio and have default on the following payday lo
Quote:
I live in ohio and have default on the following payday loans ACE $500.00 PAID NOTHING...CHECK N GO 1600.00 PAID 300.00 QUIWK CASK 800.00 PAID 150.00 ... I have not heaerd anything from ACE ...CHECK N GO I had 2 TWO LOANS BOTH 800.00 one has been sent to collection but have not heared anthing else...QUICK CASH has not contacted me. |
Whoa, wait a minute, you had TWO loans with Check n Go?? According to Ohio law, they did a big no no, Ohio pdl laws specifically state:
Quote:
Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: None (cannot refinance) |
I would be bringing that to their attention asap! They broke the law when they decided to give you two loans. Not a good thing.
okay I will , what should I say or do ??? go the corpate office
okay I will , what should I say or do ??? go the corpate office or wait until collection dept calls me? How should handle the other 2 ? Sorry for all the questions I'm really afraid and don't know what to do.
I would file a complaint with the Ohio Attorney General's office
I would file a complaint with the Ohio Attorney General's office, the BBB and the FTC, explain that this company issued you two loans when Ohio state payday loan laws specifically states only one loan at a time. Print out the laws below and take it to the store front, make them aware they have broken the law and you filed complaints against them. Basically you only have one option with your loans, since they are all store front loans you will need to make some type of payment arrangements, or they will take you to court. Also, if you have written them a pre-dated check, you can bet they will attempt to cash it, which in turn is going to end up costing you an arm and a leg.
[quote]
Ohio State Information
Legal Status: Legal (Applies to check cashers only)
Citation:
Ohio Rev. Code Ann. ???????? 1315.35 et seq.
Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer [/quote]