PDL Help in RI
Date: Tue, 01/13/2009 - 13:54
I have a couple of Payday loans that I am hoping someone can help me with. The first is with Loan Point USA which was for $500 to date I have paid $600 and they are scheduled to take another pmt out this Friday - I have sent them a letter telling them that as far as I am concerned this loan is illegal in RI and therefore is Paid In Full - they keep replying to my email telling me to call them - should I do that? The other is with United Cash Loans and I have paid them $225 on a $350.00 loan - as far as I am concerned I only owe them $125.00
Can you please help me understand the RI law - it states that 1 rollover is permitted i believe - and they have both been rolled over numerous times.
Thank you
Can you please help me understand the RI law - it states that 1 rollover is permitted i believe - and they have both been rolled over numerous times.
Thank you
Rhode Island was one of the states that let out-of-state lenders
Rhode Island was one of the states that let out-of-state lenders make loans according to their home state laws. Not sure if there have been any changes to that policy. I suggest you check with the Department of Banking to find out.
