California pay day laws
Date: Tue, 12/05/2006 - 08:36
Can i get a copy of the pay day rules & regulations in the state of california and if a pay day loan company is doing things illegal who should i contact and what letters should i send to the pay day loan company. Can i get a copy of the template/letter to send to the pdl companies
Hi cdavisd , welcome to the boards. many will be glad to assist
Hi cdavisd , welcome to the boards. many will be glad to assist you here. You can find the laws for California on my blog site along with template letters to be used in disputes with IPDL companies
This is the law in the state of CA. You will find the contact pl
This is the law in the state of CA. You will find the contact place where you can report the pdl company doing illegal business in your state.
Quote:
Legal Status: Legal Citation: Cal. Fin. Code ???????? 23000 to 23106 Loan Terms: Maximum Loan Amount: $300 Loan Term: Max: 31 days Maximum Finance Rate and Fees: 15% of check Finance Charge for 14-day $100 loan: $17.65 apr for 14-day $100 loan: 459% Debt Limits: Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted: None (cannot charge fee for extension) Cooling-off Period: None Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan) Collection Limits: Collection Fees: $15 NSF fee Criminal Action: Prohibited Where to Complain, Get Information: Regulator: California Department of Corporations Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento, CA 95814 Phone: (866) 275-2677 http://www.corp.ca.gov/ |
The settlement letter is put in this blog. Review the payments done on the loan accounts and compare it with your state laws. Once you know the actual status of your accounts, call the lenders and do the negotiations.
