Storefront PDL question...I live in TX, got loan in UT while visiting.
Date: Sat, 07/04/2009 - 08:24
Clarification as well...since I live out of town, I have been pa
Clarification as well...since I live out of town, I have been paying the interest by my coworker leaving money under the door of the place every other friday night on payday (always traceable means such as money order). The original loan amount was $250.00. Up front, they made me write a check for $317.50. Loan was taken out on March 25th...was paying every other Weds until I changed my due date and started paying every other friday until the last week in May. I would sometimes pay a pinch more like $70.00, and it widdled the balance down to $234.00. It is my understanding that every time I pay, it pays the interest in ADVANCE for two more weeks. Upon default, they cashed the check, it bounced, and came back in 8 days. My last payment was May 29th of $70.00. The check came to them on June 8th and the guy agreed that I should only be charged 8 days of interest plus an NSF fee and that the loan is considered defaulted.
However, he is telling me that they have a right to a "collections effort" fee of 3 times the balance which is $900. How in the H*** is that correct??? He keeps telling me that it was in my contract, yet he won't send me a copy. He's saying that I signed a wage revocation letter...yet can he enforce that from Utah when I am in Texas??? He told me he'd settle for $500 which I think is a total ripoff, too. Please help. This is such a mess...I may even need an attorney.
Call the state on Monday. There is a limit on the time a loan c
Call the state on Monday. There is a limit on the time a loan can be outstanding in UT and I believe that you have exceeded it. This is a violation on the part of the lender. Also, I am not sure of thier requirements to get a check for each advance. BTW, what is the store's name?
Let's not forget the the address that was placed on a legal docu
Let's not forget the the address that was placed on a legal document when applying for the loan. Was it really because of a new employee or was it deception by others by placing a St. George address and providing proof of the St. George address (bank statement).
Let's pretend however that you did live in Texas, who is in the wrong?
The company provinding a loan based on the information provided on the loan application & supporting docs or the customer frauding payday loan companies by falsifying documents to obtain money out of state and then being defaulted for nonpayment?
If the payday lender is in the wrong, what more documents should they require to ensure their customers are being honest and lawful? If the customer is in the wrong, well, I believe that's criminal. Why don't you ask that attorney you threatened to have.