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Interim and GFS

Date: Wed, 10/11/2006 - 09:32

Submitted by arj800
on Wed, 10/11/2006 - 09:32

Posts: 79 Credits: [Donate]

Total Replies: 7


Does anyone know if Interim and GFS are licensed to lend in the State of Al?


The payday loan companies must be licensed in the borrower's state before lending the loan. Ask your consolidation company to contact the lenders and pay the principal amount and the charges allowed by your state. The lenders will try to mislead you by giving obnoxious interests and fees. Remember, your state laws are there to protect you from such companies that put excessive charges on the loan principal. Don't panic, use your legal rights and you will remain safe.


lrhall41

Submitted by Flying Cats on Wed, 10/11/2006 - 12:35

( Posts: 479 | Credits: )


Quote:

Legal Status: Legal

Citation:
Ala. Code ???? 5-18A-1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 10-31 days
Maximum Finance Rate and Fees: 17.50%; 3%/month after default
Finance Charge for 14-day $100 loan: $17.50
apr for 14-day $100 loan: 456.25%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: None (max $ amount of loans at one time: $500)
Rollovers Permitted: One (rollover)
Cooling-off Period: Next business day after 2 continuous loans repaid
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $30 NSF fee; Court Costs; Reasonable Attorney's Fees up to 15% of face amount of check
Criminal Action: Prohibited (Unless check returned due to closed account)


You will find the legal contacts in your state at this link. You can file your complaints in the State AG's office and the Dept of Financial Institutions.

http://www.debtconsolidationcare.com/getting-loan/about15730.html


lrhall41

Submitted by PassionHunting on Wed, 10/11/2006 - 12:39

( Posts: 512 | Credits: )


I have a loan with GFSIL. The original loan amount was for $200 and the fee was $79.00. I have paid them a total of $474.00. According to the Alabama state laws, if I am reading correctly they owe me a refund of $195.00. How can I pursue this. How can I get copies of my loan documents from them. All of this was done online.


lrhall41

Submitted by arj800 on Wed, 10/11/2006 - 12:54

( Posts: 79 | Credits: )


Use the template letter on this site, insert your state's pdl laws where needed, if you've filed a complaint with your ag's office include that in the letter as well (in mine I added the telephone number of the ag's office and my complaint reference number) Also state that you are demanding that the loan be paid in full and a refund of $195. Then you wait for their response and stand your ground. If you have registered with Langhorne Law then he would be the one to deal with your pdls, that is what your fee is for, and he knows how to deal with them. But I encourage you to send your letters to the one's you have over paid and feel you are due a refund.


lrhall41

Submitted by WHEREAMI? on Wed, 10/11/2006 - 13:42

( Posts: 5263 | Credits: )