Payday loan law in Arizona

what would you like to know?

Kam,

Visit the website of Attorney General of Arizona. You can get some good information there-

http://www.azag.gov/

Browse the News Room there. I cannot resist myself from posting the info that I have found from the Press Release published by Arizona Attorney General-

[quote]Payday Loans: These loans are also known as cash advance loans. These are small, short-term loans with high interest rates, and loan operators are opening more and more outlets. The fees charged are usually a percentage of the face value of the loan, and the companies loaning the money give borrowers an opportunity to extend or ???roll-over??? the loan with new fees for each extension. Goddard is committed to protecting Arizona consumers so they don't get trapped in a series of loans with accumulated interest rates upward of 400 percent.[/quote]

Reference: azag.gov/press_releases/feb/2006/consumer_protection_week_2006.pdf

Thanks stanley. Looks like not much has been done in AZ about payday loan sharks at this point. I hope the AG will do something this year.

The legal rate of interest in Arizona is 10%. Lenders cannot charge more than 10% in Arizona. Thought it would help you.

can these places garnish your wages legally. or do they have to go thru a process first and are you notified before it can take effect.

How can I stop a payday loan company from garnishing my wages? There's a letter I can write them but where can I go for an example?

What this through the courts?

The company Lawall and Associates is telling me if I don't call them back they will call my HR department. Well, technically they have to go through the court to request, but I can revoke that right, right?

Wage Garnishment is court ordered, wage assignment can be revoked by you. Nofify your HR department in writing that you are revoking any and all wage assignments they may receive on your behalf.

I have read the law of Payday Loans in AZ, but I don't get it I have 7 pdl on the internet does that change anything? Are these legal in AZ? Please help I am desperately trying to clean up this mess!!!

Hello DEPRESSED Guest,

What PDL's are you dealing with? How much have you paid to all of them?

Ameriloan loan 350, paid 615
Eastside loan 300, paid 500
Integrity Advance 300, paid 715
Together Cash 300, paid 500
Payday Services 650, paid 778
Loan Shop 300, paid 540
Nationwide 300, paid 460
US fast cash 300, paid 650

All Internet no store fronts! Thanks for your help.

all loans are illegal.check out the third sticky from the top of this forum.it will guide you in how to deal with these places.sorry,that's the fifth sticky.my bad.

Thanks soo much all help is greatly appreciated!!! You guys are so much help, just reading the threads!!!

I see quite a few illegal ones on your list. From looking over the AZ laws they have well overcharged you and you may want to consider fighting for paid in full letters. It's going to be a battle but we are here to help.

Again, thanks. Are they all illegal or just a few?

I have a friend that is filing bankruptcy because of these pdl and would like to help her out. I Know she got one through Ameriloans and a few others. What can she do since the interest on it is threw the roof? I don't understand what the fifth tab is. Thank you for you help.

Ameriloan loan 350, paid 615
Eastside loan 300, paid 500
Integrity Advance 300, paid 715
Together Cash 300, paid 500
Payday Services 650, paid 778
Loan Shop 300, paid 540
Nationwide 300, paid 460
US fast cash 300, paid 650

All Internet no store fronts! Thanks for your help.
_________________
So this was from my post a couple of weeks ago and I have to give you an update because it is so encouraging just reading these posts.

Oops accidently hit reply, sorry!

I have heard from one letter and that was from Together cash/ Iadvance (ingrity) and that is taken care of .

Us fast cash is paid in full

Loan shoppe I think is paid or not I got a email from them today wanting me to know that I can reapply for another loan, I checked my bank and they have not tried to take anything out since my letter.

Ameriloan I am not sure what is going on I had to send letter to their compliance department.

Nationwide thinks that they are paid yesterday they tried to take from my bank and my bank sent back, but as of know they are showing I am eligible for another loan. ha!! like that would happen. I am sure I will continue to hear from them they keep responding to my emails stating that I definitly owe the full amount and I keep sending back my letter.

Payday Services thinks that I owe them the money as well and wants me to send a money gram.

I can't wait to be out of this mess!!! I will never do this again! no matter how desperate!!

This site had been wonderful resource and help and I think everybody who is dedicating their time to this deserves a BIG THANKS!

:oops:I have two payday loans from in-person stores, one which I have had active since 9/08, still caught up with rolling over month after month. I also have 5 online payday loans. I owe over $3000.00 to pay all of these off. I receive approx. $1000.00 per month is Social Security. I am drowning. I don't know how to get out of this. If anyone knows of how to disperse of any of these or a good consolidation company, I am begging for anyone with any assistance, I would be so very greatful. Thanks.

Quote:

i have 6 store front payday loans 2 500.00 2 350.00 1 250,00 and 1 300.00 i paid on them for over two years i finally went to a place called pdl i signed a contract with them i pay them 243.00 a month they say ill be done paying them in nov. just wandering if i made yhe right choice

I took out a payday loan here in phx,az for $500.00 and the payback was $580.00.i lost my job and was hurt in a car wreck,i have offered to make payments of $200.00 a month they refused to do so.know they are having some crazy law office call me and make open treats like iam being sued and crimminal matters.i did write a check but after i lost my job the funds were not there is there anything i can do to stop thi si know i want to repay them but they wont take the money.

i know they can right take me to small claims and sue me for there money in phx,az right.iam on unemployment due to a auto-car accident.i have made payment offers i was turned down what can i do if i have to go to court.any help would be some fresh air.iam not trying to avoid repaying them they just want it all at once.