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missouri

Date: Tue, 05/25/2010 - 12:10

Submitted by michelle varney
on Tue, 05/25/2010 - 12:10

Posts: 26 Credits: [Donate]

Total Replies: 5


i have a loan from store front check please because i defaulted they said that if they try and deposit and the check comes back to them i will owe triple the amount of the check can they do that :confused:check amount 480.00


Quote:

Originally Posted by Shazzers
Would you please clarify, I don't quite understand your post. Thanks!


i got a pdl for 480. from a store front the name is "CHECK PLEASE" they left a message on my phone that the will deposit my check and if it is returned due to nsf i will owe them 3x the amount of the check is that legal


lrhall41

Submitted by michelle varney on Tue, 05/25/2010 - 12:25

( Posts: 26 | Credits: )


Nope, not legal at all, below is a link to payday loan laws for your state:
http://www.paydayloaninfo.org/stateinfo/MO.asp
Note the following excerpt from the payday loan law in your state:
[QUOTE]
Collection Limits:
Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check.

[/QUOTE]


lrhall41

Submitted by Shazzers on Tue, 05/25/2010 - 12:48

( Posts: 17344 | Credits: )