Michigan law, can anyone help?
Date: Tue, 03/13/2007 - 16:42
Michigan law, can anyone help?
Maximum Loan Amount: $600
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of first $100, 14% of second $100, 13% of third $100, 12% of fourth $100, 11% of fifth $100, 11% of sixth $100 + any database verification fee
Finance Charge for 14-day $100 loan: $15
I had a loan with emerald marketing for 200. I've been paying $60 in interest every two weeks when i get paid for about 5 months now since I haven't been able to get out of this payday loan trap and just pay it off. Now how does that work with the michigan law? I don't really understand how that works. Anyone that can help me?
If you take $100 you have to pay $100 plus 15% interest rate and
If you take $100 you have to pay $100 plus 15% interest rate and fees. If you go for $200, you have to pay 15% interest on the first $100 plus 14% interest on the second $100 and fees. And so on the next $100
Finance charge for 14 days is $15 on every $100. Roll overs are not permitted in Michigan. Emerald has violated the laws in your state.
Then the other companies I am with have as well, but emerald has
Then the other companies I am with have as well, but emerald has been the one that continues to charge me paycheck after paycheck, the other loans are just from the past month and a half.... what can I do about that? I've already called T&C and have started the process of consolidating but what else can I do seeing as how they have violated the laws in michigan?
File a complaint with your state attorney general and let them i
File a complaint with your state attorney general and let them investigate on the charges added by emerald. They will need to refund the excessive charges. Get a second opinion before you make a move.
Do I have to pay for that? Can I do it online or is it something
Do I have to pay for that? Can I do it online or is it something I have to mail in..... Sorry I don't know anything about any of this stuff.
No, you don't need to pay a fee to the MOFIS/AG. They work for y
No, you don't need to pay a fee to the MOFIS/AG. They work for you, the consumer. You file a complaint, and if legitimate (sounds very much so in your case), and they go after the offender.
Emerald Pay day loan
I took a payday Loan out 4 years ago Now I have a company thats calling me from 1-877-822-1191 Trying to collect they won't give me there company name they are demanding 1700.00 and the loan I took out was 300.00 what should I do
Emerald Pay day loan
I took a payday Loan out 4 years ago Now I have a company thats calling me from 1-877-822-1191 Trying to collect they won't give me there company name they are demanding 1700.00 and the loan I took out was 300.00 what should I do
Emerald Pay day loan
I took a payday Loan out 4 years ago Now I have a company thats calling me from 1-877-822-1191 Trying to collect they won't give me there company name they are demanding 1700.00 and the loan I took out was 300.00 what should I do