Payday Loans In California

Date: Tue, 07/10/2012 - 12:28

Submitted by anonymous
on Tue, 07/10/2012 - 12:28

Posts: 202330 Credits: [Donate]

Total Replies: 2

i live in California and have 5 payday loans that I have already paid double the amount in interest. What are the rules for CA? Where do I find the letter template that is mentioned in one of the emails? Also wondering why you can't call the bank and stop payment on the ACH's once the lender has been notified. Thansk for yoy help.

CA PDL laws

You're should close your bank account instead of stop payments.
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California Payday Loans

Legal Status: Legal (must be licensed in CA)

Laws: [URL="http://codes.lp.findlaw.com/cacode/FIN/1/d10"]Cal. Fin. Code 23000 to 23106 [/URL]

Maximum Loan Amount: $300
Loan Term: Maximum of 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%

Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Fees: $15 NSF fee
Criminal Action: Prohibited

Still have questions or need assistance? Contact:
[URL="http://www.corp.ca.gov/"]California Department of Corporations[/URL]
Financial Services Division
1515 K Street, Suite 200
Sacramento CA 95814
Phone: 866-275-2677

[URL="http://www.corp.ca.gov/FSD/licensees/default.asp"]California License Lookup[/URL]

lrhall41

Submitted by cagrl12 on Tue, 07/10/2012 - 20:47

( Posts: 26 | Credits: )

Please list out the names of the lenders you borrowed from. Ther

Please list out the names of the lenders you borrowed from. There is a big chance that some of them are illegal.

lrhall41

Submitted by on Tue, 07/10/2012 - 23:42

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