States where triple interest is prohibited

Date: Sat, 09/02/2006 - 17:20

Submitted by KYSIDE38
on Sat, 09/02/2006 - 17:20

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Total Replies: 4

Hey Guys, Hot off the associated press today. Twelve states prohibit triple digit interest on payday loans. Arkansas, Connecticut, Georgia, Maine, zmaryland, Massachusetts, New Jersey New York, North Carolina, Pennsylvania, Vermont, and of course good ole West Virginia. If you reside in one of these states and have been paying high interest to these internet sharks stop. It is illegal. KYSIDE38

Good info!!! By chance, do you have the link to the website?

lrhall41

Submitted by PassionHunting on Sat, 09/02/2006 - 17:51

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And let's not forget California!! The max that can be charged is

And let's not forget California!! The max that can be charged is 15 percent! Thanks for sharing, more info is always good to have!

lrhall41

Submitted by kscornell on Sat, 09/02/2006 - 17:58

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In fact, it is illegal to give a resident of the Georgia a payda

In fact, it is illegal to give a resident of the Georgia a payday loan. If the company decides to go ahead and fund a loan to a Georgia resident, the law clearly states the loan is illegal and is void. So, the PDL can not taken any action in trying to collect even if the loan is not paid in full. The AG quickly reacts to consumer complaints against PDL companies.

lrhall41

Submitted by michaelsmom on Fri, 09/15/2006 - 06:20

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kyside, can you post the website where you got this information?

kyside, can you post the website where you got this information? It would be helpful for everyone.

lrhall41

Submitted by CycloneFan on Fri, 09/15/2006 - 06:34

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