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Payday loan hell!

Date: Tue, 09/26/2006 - 13:10

Submitted by anonymous
on Tue, 09/26/2006 - 13:10

Posts: 202330 Credits: [Donate]

Total Replies: 9


Hi all,

This is my first post to this site. I have about 10 PDLs outstanding. I closed my bank account since I could no longer afford bills while paying all of the interest. I live and work in PA. I have defaulted about a week ago, and haven't contacted my PDL's yet. I am looking for advice on what to do. How to contact them and what to say. Any help would be greatly appreciated. I'm so glad I found this site.


Neil..
PA frowns upon payday loans...

Quote:

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg, PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773


lrhall41

Submitted by erzeke1 on Tue, 09/26/2006 - 13:19

( Posts: 1145 | Credits: )


Payday loans is prohibited in PA

Quote:

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans under Check Cashing Licensing Act of 1998, ???? 505(a). Otherwise, consumer discount company act applies. 7 Pa. Cons. Stat. Ann. ???? 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year discount or 24% per year

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg, PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
http://www.banking.state.pa.us/banking/site/default.asp


You are liable to pay only the principal amount out of moral obligations.


lrhall41

Submitted by keystrokes on Tue, 09/26/2006 - 13:19

( Posts: 495 | Credits: )