I am new here and need help please
Date: Wed, 08/15/2007 - 10:14
I am new here and need help please
On a good note and thanks to many of you I have been able to accomplish the following in 2 short days.
SJM Marking marked PIF and stopped drafting (checked this morning nothing came out.) Paid them $2400 for a 300 loan.
Starlight Financial marked loan PIF and waiting for a response on a refund..we will see.
The question I have is this. I have all internet loans and live in California. I have read the laws of the state but need to understand the 15% interest and fees better.
I have a loan for $800 with MTE(ten dollar payday) As of today I have paid them back $960 (they have charged it all to interest.
I am right in assuming that with the 15% law they can only charge me a total of $920 for the loan plus interest?
Thank you for your help
guest
guest, you've got the ball rolling! MTE is not licensed/legal. So you are only obligated to pay the principle amount of the loan. However, if you want to go by your state law & your state law allows 15%, then your calculations are correct. Every penny you have paid them goes towards the principle of the loan. No rollover/extension fees. No fees. They are unlicensed and illegal.
Since they still have your account information I think that it m
Since they still have your account information I think that it might be a good idea to close that account and open a new one, preferably at a new bank, make sure that you read the link about closing your bank account before you do. I just don't trust these PDL's I have read to many horror stories of them taking money from people. Make sure that you get everything in writing so that you have it on file.
ladybug
