Payday loan hell...the familiar story...
Date: Thu, 08/21/2008 - 10:42
Whatever you do, do NOT give out your new bank information!! I a
Whatever you do, do NOT give out your new bank information!! I am going to post the laws for PA but I'm sure you're aware they are prohibited in your state, however, the loophole there unfortunately changes that a bit, you must abide by the laws these lenders are licensed in, so, what you will need to do is find out what state these lenders are licensed in, then you can calculate from there what you would actually owe them. :)
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Pennsylvania State Information Legal Status: Prohibited Citation: Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq. Small Loan Rate Cap $9.50 per $100 per year discount or 24% per year Where to Complain, Get Information: Regulator: Pennsylvania Department of Banking Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101 Phone: (717) 214-8343 Fax: (717) 787-8773 Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions |
I believe they are licensed by Deleware, below are the pdl laws
I believe they are licensed by Deleware, below are the pdl laws for Deleware.
World Wide Cash
4011 Kennett Pike, Suite 134-251
Greenville, DE 19807
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Operations Manager janet(at)worldwidecashnow.com 1-800-440-5869 Ext-302 |
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Delaware State Information Legal Status: Permitted under small loan act or licensing law - Legal Citation: Del. Code Ann. Tit. 5 ???? 2227 et seq. Loan Terms: Maximum Loan Amount: $500 Loan Term: Max: 60 days Maximum Finance Rate and Fees: Not Specified Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified ($1000 aggregate loans outstanding to all licensees) Rollovers Permitted: Four (rollovers) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: Criminal Action: Where to Complain, Get Information: Regulator: Delaware Office of the State Bank Commissioner Address: 555 E. Loockerman Street Suite 210 Dover DE 19901 Phone: (302) 739-4235 Fax: (302) 739-3609 Regulatory Contact: , Administrator, Non-Depository Institutions and Compliance Regulator Website |