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I live in the great state of Hawaii. I fell into the pay day trap and need help. I currently have 11 loans and can not keep up witn the fees.i hope i am in the right place for help. My husband does not know about this and wonders where all the money goes.I am having a hard time running the house.I just applied for 3 more loans just to be able to eat .Please help me.Aloha

Guest Welcome!! Can you give us a little more info. Please tell us if these are internet or store front loans. Also please list the name of each one and how much you borrowed, and how much has been paid back including any fee's they charge. I will look for the laws for your state.

Sub: #1 posted on Mon, 11/05/2007 - 11:04

Morningstarr430 Morningstarr430

(Posts: 2329 | Credits: )


Legal Status:

Loan Terms:
Maximum Loan Amount: $600
Loan Term: Max: 32 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 refinance or consolidate)

Collection Limits:
Collection Fees: $20 NSF fee; Check Casher that accepts check passed on insufficient funds not entitled to recover damages
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)

Sub: #2 posted on Mon, 11/05/2007 - 11:05

Morningstarr430 Morningstarr430

(Posts: 2329 | Credits: )

Plesae tell me exactly what this means. I am not very good at understanding laws. I need to knoe what this all means/Please

Sub: #3 posted on Mon, 11/05/2007 - 11:19


i do not see my message.I asked please for someone to explain exactly what this means. I am not good at understanding the law. Please nelp me

Sub: #4 posted on Mon, 11/05/2007 - 11:23


Guest...why not register will be easier for you to track your posts that way too. Can you tell us if these are internet or store front loans?? There is a big difference in the way they are handled.

As far as how the law reads it does also depend on what kind of loans they are too...if they are licensed in your state or not. For example...your law reads no rollover fees allowed. On most internet loans they let you roll over the fee, of lets say $30., at least 4 times before they start taking an additional amount for the principle. Lets say on a $100. loan they roll it over 4 times...that means you have alread paid $120 and none of it has gone toward the principle. In your state that would be illegal if they were a non licensed lender. How ever if it was a store front and ever week you go in and pay the whole loan back plus their fee and then re borrow the money, that would be legal for that particular company.

Sub: #5 posted on Mon, 11/05/2007 - 11:33

Morningstarr430 Morningstarr430

(Posts: 2329 | Credits: )

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