another question
Date: Mon, 06/21/2010 - 11:30
So I just looked up my state(AZ) which says LEGAL, doesnt specify anything about internet or not. Just last month AZ did away with payday loans. So Speedy Cash turned my payday loan into an installment loan. Anyone know anything about that?
It also states one loan at a time. Can I get in any trouble for having signed more than one agreement?
It also states one loan at a time. Can I get in any trouble for having signed more than one agreement?
If you signed an agreement which permitted them to convert the "
If you signed an agreement which permitted them to convert the "payday loan" into an "installment loan" then it is perfectly legal. As far as your question about obtaining more than one loan at a time, when your state law specifies only one outstanding loan. You must have led the lenders to believe that you didn't have any other lenders? Usually on the contract they ask the customer if there are any other outstanding loans out and will not extend a loan, if the customer provides that information, so it is your responsibility. No one will probably ever know about it if you pay off your loans as agreed, but I sure wouldn't take any chances and repeat that mistake.
