Help me understand. Now I am confused about this!!!!

Worrell,
Welcome! What you need to do is sit down and figure out how much you have actually paid on this loan with rollover fees, which I'm sure you paid each time you "rolled over" or renewed the loan. Did you do this every two weeks and did you bring the storefront the entire $330? And was the PDL originally for $300 with a $30 fee?

I have renwritten the pdl on the 15th and 30th of every month for the past 4 months. The loan amount was for 300 dollars with a 30 dollar fee.

So you have renewed the loan 8 times, paying 30 dollar fees each time, if I understand you. That means that you have paid $240 on the original balance of the loan, which was $330. We need to check Tennessee state law on PDL's here, since this is a storefront PDL, but it looks like you would only owe $90 on this loan, since you have already paid $240 in fees alone.

so does that mean the same applies for storefront and internet PDL i live in md and i work in WDC and the store fronts are in wdc

NO ....store fronts and internet lenders are 2 very different things. Most store fronts are legal and do follow the state laws and hold a license. So unless they are breaking that state's particular law...they are legal and can come after you in=f you default and refuse to pay. Internet lenders on the other hand...rarely are licensed and in most states should be or they are lending against the law..they also don't follow the state's stipulation for fee's and rollovers which is what makes them so dangerous. That and the fact that we give them permission to debit our bank accounts.

You will find the Payday loan laws for Tennessee here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

What does this mean?

They can charge 15% of the face value of the check in fees.

Rollovers are not allowed.

Internet companies do not need to be licensed by TN. As long as they are licensed in another state they can lend legally. They must follow the laws of the state they are licensed in.

You will find the Payday loan laws for Washington D.C. here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

What does this mean?

Internet lenders, before and after the new law, must be licensed by DC.

No limits to Rollovers.

Specific amounts can be charged.

Correct me if I am wrong. But it seems like worrell is going in and re-writing on the 15th and the 30th of each month. Worrell posted that he/she has "rewritten" twice a month for the past 4 months. If this is the case, that means that worrell goes in on the 15th, pays the loan off, re-writes another check for the same amount. Goes in on the 30th, pays the loan off, re-writes another check for the same amount. If this is indeed what is going on, then this is absolutely within the law. They are not rolling anything over. worrell is re-writing. And worrell does owe $330.00 if this is the case. It would be like me going to my storefront, writing a check for $200. Go in two weeks later, pay my check off (with the fee), then re-write another check for $200. Go back in two weeks, pay my check off (with the fee), then re-write another check for $200. Yes, that is within the law. That is if this is what is going on. I'm assuming this because worrell posted "rewritten the pdl".
Thanks for posting the law, morningstarr! :wink: