Need Help Writing Letter to State
Date: Wed, 09/27/2006 - 14:24
I want to file a complaint with the state of Louisiana regarding payday loans via the internet and how I was being overcharged when state law said that I am suppose to be charged 16.75% in interest. HOwever, I am stumped on how to write the letter to go with the complaint. Can someone help me? Anyone have any copies of letters they sent to the state concerning payday loans?
Keep your letter very simple and just the facts. File your compl
Keep your letter very simple and just the facts. File your complaint at the FTC website and with the local attorney general of your state. Mention the payday loan laws of your letter to give it the urgent effect.
Quote:
Legal Status: Legal Citation: La. Stat. Ann. ???? 3578.1 et seq. Loan Terms: Maximum Loan Amount: $350 Loan Term: 60 days Maximum Finance Rate and Fees: $5 documentation fee + the greater of 16.75% of check or $45 (After default: months 1-12: 36% per year; months 13 and beyond: 18% per year) Finance Charge for 14-day $100 loan: $25 apr for 14-day $100 loan: 650% Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: None (cannot renew or rollover but licensee may accept partial payment of 25% of amount advanced plus fees and enter into new loan) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: One NSF fee of actual bank charge (if disclosed) + the greater of $25 or 5% of check (if disclosed); Court Costs; Reasonable Attorney's Fees Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Louisiana Office of Financial Institutions Address: P.O. Box 94095 Baton Rouge, LA 70804 Phone: (225) 925-4660 Fax: (225) 925-4548 Regulatory Contact: John J. Braud,, Deputy Chief Examiner http://www.ofi.state.la.us/ |
