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PDL and Louisiana Laws

Date: Fri, 10/09/2009 - 04:19

Submitted by Michael Ouder
on Fri, 10/09/2009 - 04:19

Posts: 5 Credits: [Donate]

Total Replies: 2


I unfortunately have taken a PDL with Nationwidecash.com for $400.00. I live in Louisiana and since I have started paying back the loan, I am paying 792% APR on a 14 loan, I have paid, including this morning $600.00 in fees and $50.00 in principle. I faxed them twice this week not to take out the funds and they did it this morning. I have filed complaints with the Louisiana AG's office, the Louisiana OFI, BBB and last night with IC3. Other than closing my account, what else can I do?


Here is payday loan law regarding Louisiana.

Quote:

Other than closing my account, what else can I do?


If you really want to stop them from debiting your account, you may need to close your account or at least put a hard debit block so that they can't withdraw anymore. Go directly to your bank manager and ask for debit block. Then you may need to send the lender the ACH revocation letter. Search the site for the template.

Is this lender legal in your state?


lrhall41

Submitted by SC on Fri, 10/09/2009 - 20:18

( Posts: 3937 | Credits: )