Payday loan debt
Date: Thu, 11/16/2006 - 06:22
Since you have registered with this site and counselor will be c
Since you have registered with this site and counselor will be contacting you to discuss your situation and options.
Here is some information about payday loans in MN...Are you dealing with storefront or online lenders?
Quote:
Minnesota State Information Legal Status: Legal Citation: Minn. Stat. Ann. ???? 47.60 Loan Terms: Maximum Loan Amount: $350 Loan Term: Max: 30 days Maximum Finance Rate and Fees: $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month) Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: None (cannot repay with proceeds of another loan by same lender) Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: $30 NSF fee Criminal Action: Where to Complain, Get Information: Regulator: Minnesota Department of Commerce Address: Division of Financial Examinations, 85 7th Place East, Suite 500 St. Paul, MN 55101 Phone: (651) 296-2135 Fax: (651) 296-8591 Regulatory Contact: Kevin Murphy,, Deputy Commissioner |
You will need to either block them from debiting your account or
You will need to either block them from debiting your account or close it and open a new one. Then you need to file a complaint with your AG's office, use the template letter which Polly has on her blog and insert your pdl laws. E-mail, fax, and usps the letter. Do not back down from these guys, stand your ground with your settlement. And if you have been paying continuous refinance fees/roll overs and have already paid more than the principal and legal interest rate in roll over fees then DEMAND they mark your account paid in full. Do not fall for the threat of being charged with anytype of fraud or arrest. You will be fine, take the advice you get from this site to take action and you will be out of this mess sooner than you think.
