Please please help, In Payday loan mess
Date: Tue, 03/02/2010 - 22:19
Hello I opened 5 online payday loans since Christmas and now I'm in the mess of repayment, taking your advise and closing acct tommorow. I have I believe already overpaid at least one of them by a lot and I'm trying to clean up this mess from here. I need help, Here are the loans I have
Ameriloan loan amt 300 paid $570.00
Ace Cash Services loan amt $350.00 paid $210.00
fastcash-advance.com loan amt $300.00 paid $105.00
payday-loan-yes.com loan amt $350.00 paid $240.00
fast cash loans loan amt $300.00 paid 90.00
I found the California state law but im unsure what to do from here. I'm not late yet but seeing how way out of control this can get quick.Im really afraid of my wages being garnished. Please help. thank you Temeaka:(
California Payday Loan Laws & Legislation State Information
Legal Status: Legal
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 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%
Debt Limits:
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 Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Ameriloan loan amt 300 paid $570.00
Ace Cash Services loan amt $350.00 paid $210.00
fastcash-advance.com loan amt $300.00 paid $105.00
payday-loan-yes.com loan amt $350.00 paid $240.00
fast cash loans loan amt $300.00 paid 90.00
I found the California state law but im unsure what to do from here. I'm not late yet but seeing how way out of control this can get quick.Im really afraid of my wages being garnished. Please help. thank you Temeaka:(
California Payday Loan Laws & Legislation State Information
Legal Status: Legal
Citation:
Cal. Fin. Code §§ 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 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%
Debt Limits:
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 Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
None of those lenders are licensed to lend to your state residen
None of those lenders are licensed to lend to your state residents, you are doing the right thing by closing your account, CLICK HERE to find out how to deal with illegal lenders.
